Document:

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                                                                    Exhibit 10.6

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   American National Bank                                       Credit Agreement
and Trust Company of Chicago

           [LOGO]
BANK ONE Company

This agreement between American National Bank and Trust Company of Chicago, and
its successors and assigns, (the "Bank"), whose address is 111 E. Busse Avenue,
Mount Prospect, IL 60056, and Alltech Associates, Inc. (the "Borrower"), whose
address is 2051 Waukegan Road, Deerfield, IL 60015.

1.   Credit Facilities.

     1.1  Scope. This agreement governs Facility A, and, unless otherwise agreed
          to in writing by the Bank and the Borrower or prohibited by applicable
          law, governs the Credit Facilities.

     1.2  Facility A (Line of Credit). The Bank has approved a credit facility
          to the Borrower in the principal sum not to exceed $5,000,000.00 in
          the aggregate at any one time outstanding ("Facility A"). Credit under
          Facility A shall be repayable as set forth in a Line of Credit Note
          executed concurrently with this agreement, and any renewals,
          modifications or extensions thereof. The proceeds of Facility A shall
          be used for the following purpose: working capital.

     1.3  Borrowing Base. The aggregate principal amount of advances outstanding
          at any one time under Facility A shall not exceed the lesser of the
          Borrowing Base or $5,000,000.00. If at any time the aggregate
          principal amount of advances outstanding under Facility A exceeds the
          Borrowing Base, the Borrower shall immediately pay to the Bank an
          amount equal to the difference between such aggregate principal amount
          of advances and the Borrowing Base. "Borrowing Base" means the
          aggregate of:

          A. 80% of Domestic Eligible Accounts, not to exceed the aggregate of
          $5,000,000.00; plus

          B. 80% of Foreign Eligible Accounts, not to exceed the aggregate of
          $500,000.00; plus

          C. 45% of the value of Eligible Inventory, not to exceed the aggregate
          of $5,000,000.00. For purposes hereof value shall mean the lesser of
          the Borrower's cost thereof calculated on a first-in, first-out basis
          or the wholesale market value thereof.

2.   Definitions. As used in this agreement, the following terms have the
     following respective meanings:

     2.1  "Credit Facilities" means all extensions of credit from the Bank to
          the Borrower, whether now existing or hereafter arising, including but
          not limited to those described in Section 1.

     2.2  "Liabilities" means all obligations, indebtedness and liabilities of
          the Borrower to any one or more of the Bank, BANK ONE CORPORATION, and
          any of their subsidiaries, affiliates or successors, now existing or
          later arising, including, without limitation, all loans, advances,
          interest, costs, overdraft indebtedness, credit card indebtedness,
          lease obligations, or obligations relating to any Rate Management
          Transaction, all monetary obligations incurred or accrued during the
          pendency of any bankruptcy, insolvency, receivership or other similar
          proceedings, regardless of whether allowed or allowable in such
          proceeding, and all renewals, extensions, modifications,
          consolidations or substitutions of any of the foregoing, whether the
          Borrower may be liable jointly with others or individually liable as a
          debtor, maker, co-maker, drawer, endorser, guarantor, surety or
          otherwise, and whether voluntarily or involuntarily incurred, due or
          not due, absolute or contingent, direct or indirect, liquidated or
          unliquidated. The term "Rate Management Transaction" in this agreement
          means any transaction (including an agreement with respect thereto)
          now existing or hereafter entered into among the Borrower, the Bank or
          BANK ONE CORPORATION, or any of its subsidiaries or affiliates or
          their successors, which is a rate swap, basis swap, forward rate
          transaction, commodity swap, commodity option, equity or equity index
          swap, equity or equity index option, bond option, interest rate
          option, foreign exchange transaction, cap transaction, floor
          transaction, collar transaction, forward transaction, currency swap
          transaction, cross-currency rate swap transaction, currency option or
          any other similar transaction (including any option with respect to
          any of these transactions) or any combination thereof, whether linked
          to one or more interest rates, foreign currencies, commodity prices,
          equity prices or other financial measures.

     2.3  "Notes" means the Line of Credit Note(s) described in Section 1.

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     2.4  "Account" means a trade account, account receivable, other receivable,
          or other right to payment for goods sold or leased or services
          rendered owing to the Borrower (or to a third party grantor acceptable
          to the Bank).

     2.5  "Account Debtor" means the person or entity obligated upon an Account.

     2.6  "Affiliate" means any person, corporation or other entity directly or
          indirectly controlling, controlled by or under common control with the
          Borrower and any director or officer of the Borrower or any subsidiary
          of the Borrower.

     2.7  "Distributions" means all dividends and other distributions made by
          the Borrower to its shareholders, partners, owners or members, as the
          case may be, other than salary, bonuses, and other compensation for
          services expended in the current accounting period.

     2.8  "Domestic Eligible Accounts" means, at any time, all of the Borrower's
          Accounts which contain selling terms and conditions acceptable to the
          Bank. The net amount of any Eligible Account against which the
          Borrower may borrow shall exclude all returns, discounts, credits, and
          offsets of any nature. Unless otherwise agreed to by the Bank in
          writing, Eligible Accounts do not include Accounts: (1) with respect
          to which the Account Debtor is an employee or agent of the Borrower;
          (2) with respect to which the Account Debtor is affiliated with or
          related to the Borrower; (3) with respect to which goods are placed on
          consignment, guaranteed sale, or other terms by reason of which the
          payment by the Account Debtor may be conditional; (4) with respect to
          which the Account Debtor is not a resident of the United States,
          except to the extent such Accounts are supported by insurance, bonds
          or other assurances satisfactory to the Bank; (5) with respect to
          which the Borrower is or may become liable to the Account Debtor for
          goods sold or services rendered by the Account Debtor to the Borrower;
          (6) which are subject to dispute, counterclaim, or setoff; (7) with
          respect to which the goods have not been shipped or delivered, or the
          services have not been rendered, to the Account Debtor; (8) with
          respect to which the Bank, in its sole discretion, deems the
          creditworthiness or financial condition of the Account Debtor to be
          unsatisfactory; (9) of any Account Debtor who has filed or has had
          filed against it a petition in bankruptcy or an application for relief
          under any provision of any state or federal bankruptcy, insolvency, or
          debtor-in-relief acts; or who has had appointed a trustee, custodian,
          or receiver for the assets of such Account Debtor; or who has made an
          assignment for the benefit of creditors or has become insolvent or
          fails generally to pay its debts (including its payrolls) as such
          debts become due; (10) with respect to which the Account Debtor is the
          United States government or any department or agency of the United
          States; (11) which have not been paid in full within ninety (90) days
          from the invoice date and.(12) In no event will the balance of any
          Account of any single Account Debtor be eligible whenever the portion
          of the Account which has not been paid within ninety (90) days from
          the invoice date is in excess of 25% of the total amount outstanding
          on the Account.

     2.9  "Foreign Eligible Accounts" means, at any time, all of the Borrower's
          Accounts which contain selling terms and conditions acceptable to the
          Bank. The net amount of any Eligible Account against which the
          Borrower may borrow shall exclude all returns, discounts, credits, and
          offsets of any nature. Unless otherwise agreed to by the Bank in
          writing, Eligible Accounts do not include Accounts: (1) with respect
          to which the Account Debtor is an employee or agent of the Borrower;
          (2) with respect to which the Account Debtor is affiliated with or
          related to the Borrower; (3) with respect to which goods are placed on
          consignment, guaranteed sale, or other terms by reason of which the
          payment by the Account Debtor may be conditional; (4) with respect to
          which the Borrower is or may become liable to the Account Debtor for
          goods sold or services rendered by the Account Debtor to the Borrower;
          (5) which are subject to dispute, counterclaim, or setoff; (6) with
          respect to which the goods have not been shipped or delivered, or the
          services have not been rendered, to the Account Debtor; (7) with
          respect to which the Bank, in its sole discretion, deems the
          creditworthiness or financial condition of the Account Debtor to be
          unsatisfactory; (8) of any Account Debtor who has filed or has had
          filed against it a petition in bankruptcy or an application for relief
          under any provision of any state or federal bankruptcy, insolvency, or
          debtor-in-relief acts; or who has had appointed a trustee, custodian,
          or receiver for the assets of such Account Debtor; or who has made an
          assignment for the benefit of creditors or has become insolvent or
          fails generally to pay its debts (including its payrolls) as such
          debts become due; (9) with respect to which the Account Debtor is the
          United States government or any department or agency of the United
          States; (10) which have not been paid in full within one hundred
          twenty (120) days from the invoice date; and (11) In no event will the
          balance of any Account of any single Account Debtor be eligible
          whenever the portion of the Account which has not been paid within
          one hundred twenty (120) days from the invoice date is in excess of
          25% of the total amount outstanding on the Account.

     2.10 "Eligible Inventory" means, at any time, all of the Borrower's
          Inventory except: (1) Inventory which is not owned by the Borrower
          free and clear of all security interests, liens, encumbrances, and
          claims of third parties; (2) Inventory which the Bank, in its sole
          discretion, deems to be obsolete, unsalable, damaged, defective, or
          unfit for further processing; and (3) Work in process.

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     2.11   "Inventory" means all of the Borrower's raw materials, work in
            process, finished goods, merchandise, parts and supplies, of every
            kind and description, and goods held for sale or lease or furnished
            under contracts of service in which the Borrower now has or
            hereafter acquires any right, whether held by the Borrower or
            others, and all documents of title, warehouse receipts, bills of
            lading, and all other documents of every type covering all or any ?
            of the foregoing. Inventory includes inventory temporarily out of
            the Borrower's custody or possession and ? returns on Accounts.

     2.12   "Intangible Assets" means the aggregate amount of all assets
            classified as intangible assets under generally accepted accounting
            principles, including, without limitation, goodwill, trademarks,
            patents, copyrights, organization expenses, prepaid expenses,
            franchises, licenses, trade names, brand names, mailing lists,
            catalogs, excess of cost over book value of assets acquired, and
            bond discount and underwriting expenses.

     2.13   "Subordinated Debt" means debt subordinated to the Bank in manner
            and by agreement satisfactory to the Bank.

     2.14   "Tangible Capital Funds" means Tangible Net Worth plus Subordinated
            Debt less Intangibles.

     2.15   "Tangible Net Worth" means total assets less the sum of Intangible
            Assets, and total liabilities.

3.   Conditions Precedent.

     3.1    Conditions Precedent to Initial Extension of Credit. Before the
            first extension of credit governed by this agreement, whether by
            disbursement of a loan, issuance of a letter of credit, or
            otherwise, the Borrower shall deliver to the Bank, in form and
            substance satisfactory to the Bank:

            A.   Loan Documents. The Notes, and as applicable, the letter of
            credit applications, the security agreements, the pledge agreements,
            financing statements, mortgages or deeds of trust, the guaranties,
            the subordination agreements, and any other loan documents which the
            Bank may reasonably require to give effect to the transactions
            described in this agreement;

            B.   Evidence of Due Organization and Good Standing. Evidence,
            satisfactory to the Bank, of the ? organization and good standing of
            the Borrower and every other business entity that is a party to this
            agreement or any other loan document required by this agreement; and

            C.   Evidence of Authority to Enter into Loan Documents. Evidence
            that (i) each party to this agreement and any other loan document
            required by this agreement is authorized to enter into the
            transactions described in this agreement and the other loan
            documents, and (ii) the person signing on behalf of each such party
            is authorized to do.

     3.2    Conditions Precedent to Each Extension of Credit. Before any
            extension of credit governed by this agreement, whether by
            disbursement of a loan, issuance of a letter of credit or otherwise,
            the following conditions must be satisfied:

            A.   Representations. The representations of the Borrower are true
            on and as of the date of the extension of credit;

            B.   No Event of Default. No default has occurred in any provision
            of this agreement and is continuing or would result from the
            extension of credit, and no event has occurred which would
            constitute the occurrence of any default but for the lapse of time
            until the end of any grace or cure period; and

            C.   Additional Approvals, Opinions, and Documents. The Bank has
            received any other approvals, opinions and documents as it may
            reasonably request.

4.   Affirmative Covenants. The Borrower shall:

     4.1    Insurance. Maintain insurance with financially sound and reputable
            insurers covering its properties and business against those
            casualties and contingencies and in the types and amounts as are in
            accordance with sound business and industry practices.

     4.2    Existence. Maintain its existence and business operations as
            presently in effect in accordance with all applicable laws and
            regulations, pay its debts and obligations when due under normal
            terms, and pay on or before their due date, all taxes, assessments,
            fees and other governmental monetary obligations, except as they may
            be contested in good faith if they have been properly reflected on
            its books and, at the Bank's request, adequate funds or security has
            been pledged to insure payment.

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     4.3  Financial Records. Maintain proper books and records of account, in
          accordance with generally accepted accounting principles, and
          consistent with financial statements previously submitted to the Bank.

     4.4  Inspection. Permit the Bank to inspect and copy the Borrower's
          business records at such times and at such intervals as the Bank may
          reasonably require, and to discuss the Borrower's business,
          operations, and financial condition with the Borrower's officers and
          accountants.

     4.5  Financial Reports. Furnish to the Bank whatever information, books and
          records the Bank may reasonably request, including at a minimum:

          A. Within sixty (60) days after each quarterly period, a balance sheet
          as of the end of that period and statements of income, cash flow and
          retained earnings, from the beginning of that fiscal year to the end
          of that period, certified as correct by one of its authorized agents.

          B. Within one hundred and twenty (120) days after and as of the end of
          each of its fiscal years, a detailed financial statement including a
          balance sheet and statements of income, cash flow and retained
          earnings, such financial statement, to be audited by an independent
          certified public accountant of recognized standing acceptable to the
          Bank in the Bank's sole discretion.

          C. Within thirty (30) days after and as of the end of each calendar
          month, the following lists, each certified as correct by one of its
          authorized agents:

               (1)  a list of accounts receivable, aged from date of invoice,
                    and
               (2)  a list of inventory, valued at the lower of cost or market.

          D. Within thirty (30) days after each monthly period, the Borrower
          shall deliver to the Bank a borrowing base certificate, in form and
          detail satisfactory to the Bank, along with such supporting
          documentation as the Bank may request.

     4.6  Notices of Claims, Litigation, Defaults, etc. Promptly inform the Bank
          in writing of (1) all existing and all threatened litigation, claims,
          investigations, administrative proceedings and similar actions
          affecting the Borrower which could materially affect the financial
          condition of the Borrower; (2) the occurrence of any event which gives
          rise to the Bank's option to terminate the Credit Facilities; (3) the
          institution of steps by the Borrower to withdraw from, or the
          institution of any steps to terminate, any employee benefit plan as to
          which the Borrower may have liability; (4) any additions to or changes
          in the locations of the Borrower's businesses; and (5) any alleged
          breach of any provision of this agreement or of any other agreement
          related to the Credit Facilities by the Bank.

     4.7  Additional Information. Furnish such additional information and
          statements, as the Bank may request, from time to time.

     4.8  Insurance Reports. Furnish to the Bank, upon request of the Bank,
          reports on each existing insurance policy showing such information as
          the Bank may reasonably request.

     4.9  Other Agreements. Comply with all terms and conditions of all other
          agreements, whether now or hereafter existing, between the Borrower
          and any other party.

     4.10 Title to Assets and Property. Maintain good and marketable title to
          all of the Borrower's assets and properties.

     4.11 Additional Assurances. Make, execute and deliver to the Bank such
          other agreements as the Bank may reasonably request to evidence the
          Credit Facilities and to perfect any security interests.

     4.12 Employee Benefit Plans. Maintain each employee benefit plan as to
          which the Borrower may have any liability, in compliance with all
          applicable requirements of law and regulations.

     4.13 Depository Relationship. Maintain its primary banking relationship
          with the Bank and establish such accounts and maintain balances
          therein with the Bank sufficient to cover the cost of all the Bank's
          services provided; provided, however, that nothing herein shall
          require the Borrower to keep and maintain a specific minimum balance
          in such accounts.

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     4.14 Compliance Certificates. Provide the Bank, within sixty (60) days
          after the end of each fiscal quarter, with a certificate executed by
          the Borrower's chief financial officer, or other officer or a person
          acceptable to the Bank, certifying that, as of the date of the
          certificate, no default exists under any provision of this agreement.

5.   Negative Covenants.

     5.1  Unless otherwise noted, the financial requirements set forth in this
          section will be computed in accordance with generally accepted
          accounting principles applied on a basis consistent with financial
          statements previously submitted by the Borrower to the Bank.

     5.2  Without the written consent of the Bank, the Borrower will not:

          A. Dividends. Acquire or retire any of its shares of capital stock, or
          declare or pay dividends or make any other distributions upon any of
          its shares of capital stock, except in the absence of the occurrence
          of any default, dividends in its capital stock and dividends payable
          to "Sub-S" corporation shareholders sufficient in amount to pay their
          income tax obligation related to the Borrower's taxable income.

          B. Sale of Shares. Issue, sell or otherwise dispose of any shares of
          its capital stock or other securities, or rights, warrants or options
          to purchase or acquire those shares or securities.

          C. Debt. Incur, or permit to remain outstanding, debt for borrowed
          money or installment obligations, except debt reflected in the latest
          financial statement of the Borrower furnished to the Bank prior to
          execution of this agreement and not to be paid with proceeds of
          borrowings under the Credit Facilities. For purposes of this covenant,
          the sale of any account receivable is the incurring of debt for
          borrowed money.

          D. Guaranties. Guarantee or otherwise become or remain secondarily
          liable on the undertaking of another, except for endorsement of drafts
          for deposit and collection in the ordinary course of business.

          E. Liens. Create or permit to exist any lien on any of its property,
          real or personal, except: existing liens known to the Bank; liens to
          the Bank; liens incurred in the ordinary course of business securing
          current nondelinquent liabilities for taxes, worker's compensation,
          unemployment insurance, social security and pension liabilities.

          F. Use of Proceeds. Use, or permit any proceeds of the Credit
          Facilities to be used, directly or indirectly, for the purpose of
          "purchasing or carrying any margin stock" within the meaning of
          Federal Reserve Board Regulation U. At the Bank's request, the
          Borrower will furnish a completed Federal Reserve Board Form U-1.

          G. Continuity of Operations. (1) Engage in any business activities
          substantially different from those in which the Borrower is presently
          engaged; (2) cease operations, liquidate, merge, transfer, acquire or
          consolidate with any other entity, change its name, dissolve, or sell
          any assets out of the ordinary course of business; or (3) enter into
          any arrangement with any person providing for the leasing by the
          Borrower to any subsidiary of real or personal property which has been
          sold or transferred by the Borrower or subsidiary to such person.

          H. Limitation on Negative Pledge Clauses. Enter into any agreement
          with any person other than the Bank which prohibits or limits the
          ability of the Borrower or any of its subsidiaries to create or permit
          to exist any lien on any of its property, assets or revenues, whether
          now owned or hereafter acquired.

          I. Conflicting Agreements. Enter into any agreement containing any
          provision which would be violated or breached by the performance of
          the Borrower's obligations under this agreement.

          J. Transfer of Ownership. Permit any pledge of any ownership interest
          in the Borrower, or any sale or other transfer of any ownership
          interest in the Borrower.

          K. Tangible Capital Funds. Permit as of each fiscal quarter end, the
          Borrower and its subsidiaries' Tangible Capital Funds to be less than
          $3,500,000.00.

          L. Leverage Ratio. Permit as of each fiscal quarter end, the Borrower
          and its subsidiaries' ratio of total liabilities to Tangible Capital
          Funds to be greater than 3.75 to 1.00.

          M. Debt Service Coverage Ratio. Permit as of each fiscal quarter end,
          the Borrower and its subsidiaries' ratio of earnings before interest
          and taxes, plus depreciation, minus any distributions and unfunded
          capital expenditures,

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          for the three month period then ending to interest expense, prior
          period current maturities of long term debt and capital leases, to be
          less than 1.00 to 1.00.

6.   Representations.

     6.1  Representations by the Borrower. Each Borrower represents that: (a)
          the execution and delivery of this agreement and the Notes, and the
          performance of the obligations they impose, do not violate any law,
          conflict with any agreement by which it is bound, or require the
          consent or approval of any governmental authority or other third
          party, (b) this agreement and the Notes are valid and binding
          agreements, enforceable according to their terms, (c) all balance
          sheets, profit and loss statements, and other financial statements and
          other information furnished to the Bank in connection with the
          Liabilities are accurate and fairly reflect the financial condition of
          the organizations and persons to which they apply on their effective
          dates, including contingent liabilities of every type, which financial
          condition has not changed materially and adversely since those dates,
          (d) no litigation, claim, investigation, administrative proceeding or
          similar action (including those for unpaid taxes) against the Borrower
          is pending or threatened, and no other event has occurred which may in
          any one case or in the aggregate materially adversely affect the
          Borrower's financial condition and properties, other than litigation,
          claims, or other events, if any, that have been disclosed to and
          acknowledged by the Bank in writing, (e) all of the Borrower's tax
          returns and reports that are or were required to be filed, have been
          filed, and all taxes, assessments and other governmental charges have
          been paid in full, except those presently being contested by the
          Borrower in good faith and for which adequate reserves have been
          provided, (f) the Borrower is not a "holding company" or a company
          "controlled" by an "investment company", within the meaning of the
          Investment Company Act of 1940. as amended. (g) the Borrower is not a
          "holding company", or a "subsidiary company" of a "holding company" or
          an "affiliate" of a "holding company" or of a "subsidiary company" of
          a "holding company" within the meaning of the Public Utility Holding
          Company Act of 1935, as amended, (h) there are no defenses or
          counterclaims, offsets or adverse claims, demands or actions of any
          kind, personal or otherwise, that the Borrower could assert with
          respect to this agreement or the Credit Facilities, (i) the Borrower
          owns, or is licensed to use, all trademarks, trade names, copyrights,
          technology, know-how and processes necessary for the conduct of its
          business as currently conducted, and (j) no part of the proceeds of
          the Credit Facilities will be used for "purchasing" or "carrying" any
          "margin stock" within the respective meanings of each of the quoted
          terms under Regulation U of the Board of Governors of the Federal
          Reserve System of the United States (the "Board") as now and from time
          to time hereafter in effect or for any purpose which violates the
          provisions of any regulations of the Board. Each Borrower, other than
          a natural person, further represents that: (a) it is duly organized,
          existing and in good standing pursuant to the laws under which it is
          organized, and (b) the execution and delivery of this agreement and
          the Notes and the performance of the obligations they impose (i) are
          within its powers, (ii) have been duly authorized by all necessary
          action of its governing body, and (iii) do not contravene the terms of
          its articles of incorporation or organization, its by-laws, or any
          partnership, operating or other agreement governing its affairs.

     6.2  Representations Regarding Assets. With respect to any asset of the
          Borrower utilized in the calculation of the Borrowing Base set forth
          in this agreement, the Borrower represents and warrants to the Bank:
          (1) each asset represented by the Borrower to be eligible for
          Borrowing Base purposes of this agreement conforms to the eligibility
          definitions set forth in this agreement (2) all asset values delivered
          to the Bank will be true and correct, subject to immaterial variance;
          and be determined on a consistent accounting basis; (3) except as
          agreed to the contrary by the Bank in writing, each asset is now and
          at all times hereafter will be in the Borrower's physical possession
          and shall not be held by others on consignment, sale or approval, or
          sale or return; (4) except as reflected in schedules delivered to the
          Bank, each asset is now and at all times hereafter will be of good and
          merchantable quality, free from defects; (5) each asset is not now and
          will not at any time hereafter be stored with a bailee, warehouseman,
          or similar party without the Bank's prior written consent, and in such
          event, the Borrower will concurrently at the time of bailment cause
          any such bailee, warehouseman, or similar party to issue and deliver
          to the Bank, warehouseman receipts in the Bank's name evidencing the
          storage of the assets; and (6) the Bank, its assigns, or agents shall
          have the right at any time and at the Borrower's expense to inspect,
          examine and audit the Borrower's records, and if Accounts are included
          in the calculation of Borrowing Base, confirm with Account Debtors the
          accuracy of such Accounts, and inspect and examine the assets and
          to check and test the same as to quality, quantity, value, and
          condition.

7.   Default/Remedies. If any of the Credit Facilities are not paid at maturity,
     whether by acceleration or otherwise, or if a default by anyone occurs
     under the terms of this agreement, the Notes or any agreement related to
     the Credit Facilities, then the Bank shall have all of the rights and
     remedies provided by any law or agreement.

8.   Miscellaneous.

     8.1. Notice. Any notices and demands under or related to this document
          shall be in writing and delivered to the intended party at its address
          stated herein, and if to the Bank, at its main office if no other
          address of the Bank is specified herein,

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          by one of the following means: (a) by hand, (b) by a nationally
          recognized overnight courier service, or (c) by certified mail,
          postage prepaid, with return receipt requested. Notice shall be deemed
          given: (a) upon receipt if delivered by hand. (b) on the Delivery Day
          after the day of deposit with a nationally recognized courier service,
          or (c) on the third Delivery Day after the notice is deposited in the
          mail. "Delivery Day" means a day other than a Saturday, a Sunday or
          any other day on which national banking associations are authorized to
          be closed. Any party may change its address for purposes of the
          receipt of notices and demands by giving notice of such change in the
          manner provided in this provision.

     8.2  No Waiver. No delay on the part of the Bank in the exercise of any
          right or remedy waives that right or remedy. No single or partial
          exercise by the Bank of any right or remedy precludes any other future
          exercise of it or the exercise of any other right or remedy. No waiver
          or indulgence by the Bank of any default is effective unless it is in
          writing and signed by the Bank, nor shall a waiver on one occasion bar
          or waive that right on any future occasion.

     8.3  Integration. This agreement, the Notes, and any agreement related to
          the Credit Facilities embody the entire agreement and understanding
          between the Borrower and the Bank and supersede all prior agreements
          and understandings relating to their subject matter. If any one or
          more of the obligations of the Borrower under this agreement or the
          Notes is invalid, illegal or unenforceable in any jurisdiction, the
          validity, legality and enforceability of the remaining obligations of
          the Borrower shall not in any way be affected or impaired, and the
          invalidity, illegality or unenforceability in one jurisdiction shall
          not affect the validity, legality or enforceability of the obligations
          of the Borrower under this agreement or the Notes in any other
          jurisdiction.

     8.4  Joint and Several Liability. Each Borrower, if more than one, is
          jointly and severally liable.

     8.5  Governing Law and Venue. This agreement is delivered in the State of
          Illinois and governed by Illinois law (without giving effect to its
          laws of conflicts). The Borrower agrees that any legal action or
          proceeding with respect to any of its obligations under this agreement
          may be brought by the Bank in any state or federal court located in
          the State of Illinois, as the Bank in its sole discretion may elect.
          By the execution and delivery of this agreement, the Borrower submits
          to and accepts, for itself and in respect of its property, generally
          and unconditionally, the non-exclusive jurisdiction of those courts.
          The Borrower waives any claim that the State of Illinois is not a
          convenient forum on the proper venue for any such suit, action or
          proceeding.

     8.6  Captions. Section headings are for convenience of reference only and
          do not affect the interpretation of this agreement.

     8.7  Subsidiaries and Affiliates of the Borrower. To the extent the context
          of any provisions of this agreement makes it appropriate, including
          without limitation any representation, warranty or covenant, the word
          "Borrower" as used in this agreement shall include all of the
          Borrower's subsidiaries and affiliates. Notwithstanding the foregoing,
          however, under no circumstances shall this agreement be construed to
          require the Bank to make any loan or other financial accommodation to
          any of the Borrower's subsidiaries or affiliates.

     8.8  Survival of Representations and Warranties. The Borrower understands
          and agrees that in extending the Credit Facilities, the Bank is
          relying on all representations, warranties, and covenants made by the
          Borrower in this agreement or in any certificate or other instrument
          delivered by the Borrower to the Bank under this agreement. The
          Borrower further agrees that regardless of any investigation made by
          the Bank, all such representations, warranties and covenants will
          survive the making of the Credit Facilities and delivery to the Bank
          of this agreement, shall be continuing in nature, and shall remain in
          full force and effect until such time as the Borrower's indebtedness
          to the Bank shall be paid in full.

     8.9  Non-Liability of the Bank. The relationship between the Borrower and
          the Bank created by this agreement is strictly a debtor and creditor
          relationship and not fiduciary in nature, nor is the relationship to
          be construed as creating any partnership or joint venture between the
          Bank and the Borrower. The Borrower is exercising the Borrower's own
          judgement with respect to the Borrower's business. All information
          supplied to the Bank is for the Bank's protection only and no other
          party is entitled to rely on such information. There is no duty for
          Bank to review, inspect, supervise or inform the Borrower of any
          matter with respect to the Borrower's business. The Bank and the
          Borrower intend that the Bank may reasonably rely on all information
          supplied by the Borrower to the Bank, together with all
          representations and warranties given by the Borrower to the Bank,
          without investigation or confirmation by the Bank and that any
          investigation or failure to investigate will not diminish the Bank's
          right to so rely.

     8.10 Indemnification of the Bank. The Borrower agrees to indemnify, defend
          and hold the Bank and BANK ONE CORPORATION, or any of its subsidiaries
          or affiliates or their successors, and each of their respective
          shareholders, directors, officers, employees and agents (collectively,
          the "Indemnified Persons") harmless from any and all obligations,
          claims, liabilities, losses, damages, penalties, fines, forfeitures,
          actions, judgments, suits, costs,

                                        7

<PAGE>

          expenses and disbursements of any kind or nature (including, without
          limitation, any Indemnified Person's attorneys' fees) (collectively,
          the "Claims") which may be imposed upon, incurred by or assessed
          against any Indemnified Person (whether or not caused by any
          Indemnified Person's sole, concurrent, or contributory negligence)
          arising out of or relating to this agreement; the exercise of the
          rights and remedies granted under this agreement (including, without
          limitation, the enforcement of this agreement and the defense of any
          Indemnified Persons action or inaction in connection with this
          agreement); and in connection with the Borrower's failure to perform
          all of the Borrower's obligations under this agreement, except to the
          limited extent that the Claims against any such Indemnified Person are
          proximately caused by such Indemnified Person's willful misconduct.
          The indemnification provided for in this section shall survive the
          termination of this agreement and shall extend to and continue to
          benefit each individual or entity who is or has at any time been an
          Indemnified Person.

          The Borrower's indemnity obligations under this section shall not in
          any way be affected by the presence or absence of covering insurance,
          or by the amount of such insurance or by the failure or refusal of any
          insurance carrier to perform any obligation on its part under any
          insurance policy or policies affecting the Borrower's assets or the
          Borrower's business activities. Should any Claim be made or brought
          against any Indemnified Person by reason of any event as to which the
          Borrower's indemnification obligations apply, then, upon any
          Indemnified Person's demand, the Borrower, at its sole cost and
          expense, shall defend such Claim in the Borrower's name, if necessary,
          by the attorneys for the Borrower's insurance carrier (if such Claim
          is covered by insurance), or otherwise by such attorneys as any
          Indemnified Person shall approve. Any Indemnified Person may also
          engage its own attorneys at its reasonable discretion to defend the
          Borrower and to assist in its defense and the Borrower agrees to pay
          the fees and disbursements of such attorneys.

     8.11 Counterparts. This agreement may be executed in multiple counterparts,
          each of which, when so executed, shall be deemed an original, but all
          such counterparts, taken together, shall constitute one and the same
          agreement.

     8.12 Sole Discretion of the Bank. Whenever the Bank's consent or approval
          is required under this agreement, the decision as to whether or not to
          consent or approve shall be in the sole and exclusive discretion of
          the Bank and the Bank's decision shall be final and conclusive.

     8.13 Advice of Counsel. The Borrower acknowledges that it has been advised
          by counsel, or had the opportunity to be advised by counsel, in the
          negotiation, execution and delivery of this agreement and any
          documents executed and delivered in connection with the Credit
          Facilities.

     8.14 Recovery of Additional Costs. If the imposition of or any change in
          any law, rule, regulation, or guideline, or the interpretation or
          application of any thereof by any court or administrative or
          governmental authority (including any request or policy not having the
          force of law) shall impose, modify, or make applicable any taxes
          (except federal, state, or local income or franchise taxes imposed on
          the Bank), reserve requirements, capital adequacy requirements, or
          other obligations which would (A) increase the cost to the Bank for
          extending or maintaining the Credit Facilities, (B) reduce the amounts
          payable to the Bank under the Credit Facilities, or (C) reduce the
          rate of return on the Bank's capital as a consequence of the Bank's
          obligations with respect to the Credit Facilities, then the Borrower
          agrees to pay the Bank such additional amounts as will compensate the
          Bank therefor, within five (5) days after the Bank's written demand
          for such payment. The Bank's demand shall be accompanied by an
          explanation of such imposition or charge and a calculation in
          reasonable detail of the additional amounts payable by the Borrower,
          which explanation and calculations shall be conclusive in the absence
          of manifest error.

     8.15 Conflicting Terms. If this agreement is inconsistent with any
          provision in any agreement related to the Credit Facilities, the Bank
          shall determine, in the Bank's sole and absolute discretion, which of
          the provisions shall control any such inconsistency.

     8.16 Expenses. The Borrower agrees to pay or reimburse the Bank for all its
          out-of-pocket costs and expenses and reasonable attorneys' fees
          (including the fees of in-house counsel) incurred in connection with
          the development, preparation and execution of, and in connection with
          the enforcement or preservation of any rights under, this agreement,
          any amendment, supplement, or modification thereto, and any other
          documents prepared in connection herewith or therewith. These costs
          and expenses include without limitation any costs or expenses incurred
          by the Bank in any bankruptcy, reorganization, insolvency or other
          similar proceeding.

9.   WAIVER OF SPECIAL DAMAGES. THE BORROWER WAIVES, TO THE MAXIMUM EXTENT NOT
     PROHIBITED BY LAW, ANY RIGHT THE UNDERSIGNED MAY HAVE TO CLAIM OR RECOVER
     FROM THE BANK IN ANY LEGAL ACTION OR PROCEEDING ANY SPECIAL, EXEMPLARY,
     PUNITIVE OR CONSEQUENTIAL DAMAGES.

                                        8

<PAGE>

10.  JURY WAIVER. THE BORROWER AND THE BANK HEREBY VOLUNTARILY, KNOWINGLY,
     IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY RIGHT TO HAVE A JURY PARTICIPATE
     IN RESOLVING ANY DISPUTE WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE)
     BETWEEN THE BORROWER AND THE BANK ARISING OUT OF OR IN ANY WAY RELATED TO
     THIS DOCUMENT. THIS PROVISION IS A MATERIAL INDUCEMENT TO THE BANK TO
     PROVIDE THE FINANCING DESCRIBED HEREIN.

Dated: 5/30, 2002

Address(es) for Notices:           Borrower:

2051 Waukegan Road                 Alltech Associates, Inc.
Deerfield, IL 60015

Attn: GEOFFRY MALTIN               By: /s/ Geoffry Matlin
                                       -----------------------------------------
                                       GEOFFRY MATLIN                      CFO
                                       Printed Name                        Title

                                   Date: 5/20/02

Address for Notices:               Bank:

111 E. Busse Avenue                American National Bank and Trust Company
                                     of Chicago
Mount Prospect, IL 60056

Attn: Thomas A. O'Grady            By: Thomas A. O'Grady
                                       -----------------------------------------
                                       Thomas A. O'Grady    First Vice President
                                       Printed Name                        Title

                                       Date: 5/30/02

                                        9<PAGE>

                                                                    Exhibit 10.7

   [LOGO]
  BANK ONE
                                                             Line of Credit Note

                                                                   $5,000,000.00
Due: May 31, 2004                                             Date: May 30, 2003

Promise to Pay. On or before May 31, 2004, for value received, Alltech
Associates, Inc. (the "Borrower") promises to pay to Bank One, NA, with its main
office in Chicago, IL, whose address is 1 Bank One Plaza, Chicago, IL 60670 (the
"Bank") or order, in lawful money of the United States of America, the sum of
Five Million and 00/100 Dollars ($5,000,000.00) or such lesser sum as is
indicated on Bank records, plus interest computed on the basis of the actual
number of days elapsed in a year of 360 days at the rate of 0% per annum above
the Prime Rate (the "Note Rate"), and at the rate of 3.00% per annum above the
Note Rate, at the Bank's option, upon the occurrence of any default under this
Note, whether or not the Bank elects to accelerate the maturity of this Note,
from the date such increased rate is imposed by the Bank. In this Note, "Prime
Rate" means a rate per annum equal to the prime rate of interest announced from
time to time by the Bank or its parent (which rate is not necessarily the lowest
rate charged to any customer), changing when and as the prime rate changes.

In no event shall the interest rate exceed the maximum rate allowed by law. Any
interest payment that would for any reason be unlawful under applicable law
shall be applied to principal.

Interest will be computed on unpaid principal balance from the date of each
borrowing.

Until maturity, the Borrower will pay consecutive monthly installments of
interest only commencing June 30, 2003.

The Borrower will pay, without setoff, deduction, or counterclaim, the Bank at
the Bank's address above or at such other place as the Bank may designate in
writing. If any payment of principal or interest on this Note shall become due
on a day that is not a Business Day, the payment will be made on the next
succeeding Business Day. The term "Business Day" in this Note means a day other
than a Saturday, Sunday or any other day on which national banking associations
are authorized to be closed. Payments shall be allocated among principal,
interest and fees at the discretion of the Bank unless otherwise agreed or
required by applicable law. Acceptance by the Bank of any payment that is less
than the payment due at that time shall not constitute a waiver of the Bank's
right to receive payment in full at that time or any other time.

Late Fee. If any payment is not received by the Bank within ten (10) days after
its due date, the Bank may assess and the Borrower agrees to pay a late fee
equal to the greater of: (a) five percent (5.00%) of the past due amount or (b)
Twenty Five and 00/100 Dollars ($25.00), up to the maximum amount of One
Thousand Five Hundred and 00/100 Dollars ($1,500.00) per late charge.

Business Loan. The Borrower acknowledges and agrees that this Note evidences a
loan for a business, commercial, agricultural or similar commercial enterprise
purpose, and that all advances made under this Note shall not be used for any
personal, family or household purpose.

Credit Facility. The Bank has approved a credit facility to the Borrower in a
principal amount not to exceed the face amount of this Note. The credit facility
is in the form of advances made from time to time by the Bank to the Borrower.
This Note evidences the Borrower's obligation to repay those advances. The
aggregate principal amount of debt evidenced by this Note is the amount
reflected from time to time in the records of the Bank. Until the earliest of
maturity, the occurrence of any default, or the occurrence of any event that
would constitute the occurrence of any default but for the lapse of time until
the end of any grace or cure period, the borrower may borrow, pay down and
reborrow under this Note subject to the terms of the Related Documents.

Liabilities. The term "Liabilities" in this Note means all obligations,
indebtedness and liabilities of the Borrower to any one or more of the Bank,
BANK ONE CORPORATION, and any of their subsidiaries, affiliates or successors,
now existing or later arising, including, without limitation, all loans,
advances, interest, costs, overdraft indebtedness, credit card indebtedness,
lease obligations, or obligations relating to any Rate Management Transaction,
all monetary obligations incurred or accrued during the pendency of any
bankruptcy, insolvency, receivership or other similar proceedings, regardless of
whether allowed or allowable in such proceeding, and all renewals, extensions,
modifications, consolidations or substitutions of any of the foregoing, whether
the Borrower may be liable jointly with others or individually liable as a
debtor, maker, co-maker, drawer, endorser, guarantor, surety or otherwise, and
whether a voluntarily or involuntarily incurred, due or not due, absolute or
contingent, direct or indirect, liquidated or unliquidated. The term "Rate
Management Transaction" in this Note means any transaction (including an
agreement with respect thereto) now existing or thereafter entered into among
the Borrower, the Bank or BANK ONE CORPORATION, or any of its subsidiaries or
affiliates or their successors, which is a rate swap, basis swap, forward rate
transaction, commodity swap, commodity option, equity or equity index swap,
equity or equity index option, bond option, interest rate option, foreign
exchange transaction, cap transaction, floor transaction, collar transaction,
forward transaction, currency swap transaction, cross-currency rate swap
transacation, currency option or any other

<PAGE>

similar transaction (including any option with respect to any of these
transactions) or any combination thereof, whether linked to one or more interest
rates, foreign currencies, commodity prices, equity prices or other financial
measures.

Related Documents. The term "Related Documents" in this Note means all loan
agreements, credit agreements, reimbursement agreements, security agreements,
mortgages, deeds of trust, pledge agreements, assignments, guaranties, or any
other instrument or document executed in connection with this Note or in
connection with any of the Liabilities.

Security. The term "Collateral" in this Note means all real or personal property
described in all security agreements, pledge agreements, mortgages, deeds of
trust, assignments, or other instruments now or hereafter executed in connection
with this Note or in connection with any of the Liabilities. If applicable, the
Collateral secures the payment of this Note and the Liabilities.

Bank's Right of Setoff. In addition to the Collateral, if any, the Borrower
grants to the Bank a security interest in, and the Bank is authorized to setoff
and apply, all Accounts, Securities and Other Property, and Bank Debt against
any and all Liabilities of the Borrower. This right of setoff may be exercised
at any time and from time to time, and without prior notice to the Borrower.
This security interest and right of setoff may be enforced or exercised by the
Bank regardless of whether or not the Bank has made any demand under this
paragraph or whether the Liabilities are contingent, matured, or unmatured. Any
delay, neglect or conduct by the Bank in exercising its rights under this
paragraph will not be a waiver of the right to exercise this right of setoff or
enforce this security interest. The rights of the Bank under this paragraph are
in addition to other rights the Bank may have in the Related Documents or by
law. In this paragraph: (a) the term "Accounts" means any and all accounts and
deposits of the Borrower (whether general, special, time, demand, provisional or
final) at any time held by the Bank (including all Accounts held jointly with
another, but excluding any IRA or Keogh Account, or any trust Account in which a
security interest would be prohibited by law); (b) the term "Securities and
Other Property" means any and all securities and other property of the Borrower
in the custody, possession or control of the Bank (other than property held by
the Bank in a fiduciary capacity); and (c) the term "Bank Debt" means all
indebtedness at any time owing by the Bank, to or for the credit or account of
the Borrower.

Representations by Borrower. Each Borrower represents that: (a) the execution
and delivery of this Note and the performance of the obligations it imposes do
not violate any law, conflict with any agreement by which it is bound, or
require the consent or approval of any governmental authority or other third
party; (b) this Note is a valid and binding agreement, enforceable according to
its terms; and (c) all balance sheets, profit and loss statements, and other
financial statements furnished to the Bank in connection with the Liabilities
are accurate and fairly reflect the financial condition of the organizations and
persons to which they apply on their effective dates, including contingent
liabilities of every type, which financial condition has not changed materially
and adversely since those dates. Each Borrower, other than a natural person,
further represents that: (a) it is duly organized, existing and in good standing
pursuant to the laws under which it is organized; and (b) the execution and
delivery of this Note and the performance of the obligations it imposes (i) are
within its powers and have been duly authorized by all necessary action of its
governing body, and (ii) do not contravene the terms of its articles of
incorporation or organization, its by-laws, or any partnership, operating or
other agreement governing its affairs.

Events of Default/Acceleration. If any of the following events occurs this Note
shall become due immediately, without notice, at the Bank's option:

1.   The Borrower, or any guarantor of this Note (the "Guarantor"), fails to pay
     when due any amount payable under this Note, under any of the Liabilities,
     or under any agreement or instrument evidencing debt to any creditor.
2.   The Borrower or any Guarantor (a) fails to observe or perform any other
     term of this Note; (b) makes any materially incorrect or misleading
     representation, warranty, or certificate to the Bank; (c) makes any
     materially incorrect or misleading representation in any financial
     statement or other information delivered to the Bank; or (d) defaults under
     the terms of any agreement or instrument relating to any debt for borrowed
     money (other than the debt evidenced by this Note) and the effect of such
     default will allow the creditor to declare the debt due before its
     maturity.
3.   In the event (a) there is a default under the terms of any Related
     Document, (b) any guaranty of the loan evidenced by this Note is terminated
     or becomes unenforceable in whole or in part, (c) any Guarantor fails to
     promptly perform under its guaranty, or (d) the Borrower fails to comply
     with, or pay, or perform under any agreement, now or hereafter in effect,
     between the Borrower and BANK ONE CORPORATION, or any of its subsidiaries
     or affiliates or their successors.
4.   There is any loss, theft, damage, or destruction of any Collateral not
     covered by insurance.
5.   A "reportable event" (as defined in the Employee Retirement Income Security
     Act of 1974 as amended) occurs that would permit the Pension Benefit
     Guaranty Corporation to terminate any employee benefit plan of the Borrower
     or any affiliate of the Borrower.
6.   The Borrower or any Guarantor becomes insolvent or unable to pay its debts
     as they become due.
7.   The Borrower or any Guarantor (a) makes an assignment for the benefit of
     creditors; (b) consents to the appointment of a custodian, receiver, or
     trustee for itself or for a substantial part of its assets; or (c)
     commences any proceeding under any bankruptcy, reorganization, liquidation,
     insolvency or similar laws of any jurisdiction.
8.   A custodian, receiver, or trustee is appointed for the Borrower or any
     Guarantor or for a substantial part of its assets without its consent.

                                       2

<PAGE>

9.   Proceedings are commenced against the Borrower or any Guarantor under any
     bankruptcy, reorganization, liquidation, or similar laws of any
     jurisdiction, and they remain undismissed for thirty (30) days after
     commencement; or the Borrower or the Guarantor consents to the commencement
     of those proceedings.
10.  Any judgment is entered against the Borrower or any Guarantor, or any
     attachment, levy, or garnishment is issued against any property of the
     Borrower or any Guarantor.
11.  The Borrower or any Guarantor dies.
12.  The Borrower or any Guarantor, without the Bank's written consent (a) is
     dissolved, (b) merges or consolidates with any third party, (c) leases,
     sells or otherwise conveys a material part of its assets or business
     outside the ordinary course of its business, (d) leases, purchases, or
     otherwise acquires a material part of the assets of any other business
     entity, except in the ordinary course of its business, or (e) agrees to do
     any of the foregoing (notwithstanding the foregoing, any subsidiary may
     merge or consolidate with any other subsidiary, or with the Borrower, so
     long as the Borrower is the survivor).
13.  There is a substantial change in the existing or prospective financial
     condition of the Borrower or any Guarantor that the Bank in good faith
     determines to be materially adverse.
14.  The Bank in good faith deems itself insecure.

Remedies. If this Note is not paid at maturity, whether by acceleration or
otherwise, the Bank shall have all of the rights and remedies provided by any
law or agreement. The Bank is authorized to cause all or any part of the
Collateral to be transferred to or registered in its name or in the name of any
other person or business entity, with or without designating the capacity of
that nominee. Without limiting any other available remedy, the Borrower is
liable for any deficiency remaining after disposition of any Collateral. The
Borrower is liable to the Bank for all reasonable costs and expenses of every
kind incurred in the making or collection of this Note, including without
limitation reasonable attorneys' fees and court costs. These costs and expenses
include without limitation any costs or expenses incurred by the Bank in any
bankruptcy, reorganization, insolvency or other similar proceeding.

Waivers. Any party liable on this Note waives (a) to the extent permitted by
law, all rights and benefits under any laws or statutes regarding sureties, as
may be amended; (b) any right to receive notice of the following matters before
the Bank enforces any of its rights: (i) the Bank's acceptance of this Note,
(ii) any credit that the Bank extends to the Borrower, (iii) the Borrower's
default, (iv) any demand, diligence, presentment, dishonor and protest, or (v)
any action that the Bank takes regarding the Borrower, anyone else, any
Collateral, or any of the Liabilities, that it might be entitled to by law or
under any other agreement; (c) any right to require the Bank to proceed against
the Borrower, any other obligor or guarantor of the Liabilities, or any
Collateral, or pursue any remedy in the Bank's power to pursue; (d) any defense
based on any claim that any endorser or other parties' obligations exceed or are
more burdensome than those of the Borrower; (e) the benefit of any statute of
limitations affecting liability of any endorser or other party liable hereunder
or the enforcement hereof; (f) any defense arising by reason of any disability
or other defense of the Borrower or by reason of the cessation from any cause
whatsoever (other than payment in full) of the obligation of the Borrower for
the Liabilities; and (g) any defense based on or arising out of any defense that
the Borrower may have to the payment or performance of the Liabilities or any
portion thereof. Any party liable on this Note consents to any extension or
postponement of time of its payment without limit as to the number or period, to
any substitution, exchange or release of all or any part of the Collateral, to
the addition of any other party, and to the release or discharge of, or
suspension of any rights and remedies against, any person who may be liable for
the payment of this Note. The Bank may waive or delay enforcing any of its
rights without losing them. Any waiver affects only the specific terms and time
period stated in the waiver. No modification or waiver of any provision of this
Note is effective unless it is in writing and signed by the party against whom
it is being enforced.

Subordination. Any rights of any party liable on this Note, whether now existing
or hereafter arising, to receive payment on account of any indebtedness
(including interest) owed to any party liable on this Note by the Borrower, or
to withdraw capital invested by it in the Borrower, or to receive distributions
from the Borrower, shall at all times be subordinate to the full and prior
repayment to the Bank of the Liabilities. No party liable on this Note shall be
entitled to enforce or receive payment of any sums hereby subordinated until the
Liabilities have been paid in full and any such sums received in violation of
this paragraph shall be received by such party in trust for the Bank. Any party
liable on this Note agrees to stand still with regard to the Bank's enforcement
of its rights, including taking no action to delay, impede or otherwise
interfere with the Bank's rights to realize on the Collateral. The foregoing
notwithstanding, until the occurrence of any default, any party liable on this
Note is not prohibited from receiving distributions from the Borrower in an
amount equal to any income tax liability imposed on such party liable on this
Note attributable to an ownership interest in the Borrower, if any.

Rights of Subrogation. Any party liable on this Note waives and agrees not to
enforce any rights of subrogation, contribution or indemnification that it may
have against the Borrower, any person liable on the Liabilities, or the
Collateral, until the Borrower and such party liable on this Note have fully
performed all their obligations to the Bank, even if those obligations are not
covered by this Note.

Reinstatement. All parties liable on this Note agree that to the extent any
payment is received by the Bank in connection with the Liabilities, and all or
any part of such payment is subsequently invalidated, declared to be fraudulent
or preferential, set aside or required to be repaid by the Bank or paid over to
a trustee, receiver or any other entity, whether under any bankruptcy act or
otherwise any such payment is hereinafter referred to as a "Preferential
Payment"), then this Note shall continue to be effective or shall be

                                        3

<PAGE>

(any such payment is hereinafter referred to as a "Preferential Payment"), then
this Note shall continue to be effective or shall be reinstated, as the case may
be, and whether or not the Bank is in possession of this Note, and, to the
extent of such payment or repayment by the Bank, the Liabilities or part thereof
intended to be satisfied by such Preferential Payment shall be revived and
continued in full force and effect as if said Preferential Payment had not been
made.

Governing Law and Venue. This Note is delivered in the State of Illinois and
governed by Illinois law (without giving effect to its laws of conflicts). The
Borrower agrees that any legal action or proceeding with respect to any of its
obligations under this Note may be brought by the Bank in any state or federal
court located in the State of Illinois, as the Bank in its sole discretion may
elect. By the execution and delivery of this Note, the Borrower submits to and
accepts, for itself and in respect of its property, generally and
unconditionally, the non-exclusive jurisdiction of those courts. The Borrower
waives any claim that the State of Illinois is not a convenient forum or the
proper venue for any such suit, action or proceeding.

Renewal and Extension. This Note is given in replacement, renewal and/or
extension of, but not extinguishing the indebtedness evidenced by, that Line of
Credit Note dated May 30, 2002 executed by the Borrower in the original
principal amount of Five Million and 00/100 Dollars ($5,000,000.00), including
previous renewals or modifications thereof, if any (the "Prior Note"), and is
not a novation thereof. All interest evidenced by the Prior Note shall continue
to be due and payable until paid. If applicable, all Collateral continues to
secure the payment of this Note and the Liabilities. The provisions of this Note
are effective on May 30, 2003.

Miscellaneous. The Borrower, if more than one, is jointly and severally liable
for the obligations represented by this Note, the term "Borrower" means any one
or more of them, and the receipt of value by any one of them constitutes the
receipt of value by the others. This Note binds the Borrower and its successors,
and benefits the Bank, its successors and assigns. Any reference to the Bank
includes any holder of this Note. Section headings are for convenience of
reference only and do not affect the interpretation of this Note. Any notices
and demands under or related to this document shall be in writing and delivered
to the intended party at its address stated herein, and if to the Bank, at its
main office if no other address of the Bank is specified herein, by one of the
following means: (a) by hand, (b) by a nationally recognized overnight courier
service, or (c) by certified mail, postage prepaid, with return receipt
requested. Notice shall be deemed given: (a) upon receipt if delivered by hand,
(b) on the Delivery Day after the day of deposit with a nationally recognized
courier service, or (c) on the third Delivery Day after the notice is deposited
in the mail. "Delivery Day" means a day other than a Saturday, a Sunday, or any
other day on which national banking associations are authorized to be closed.
Any party may change its address for purposes of the receipt of notices and
demands by giving notice of such change in the manner provided in this
provision. This Note and any Related Documents embody the entire agreement
between the Borrower and the Bank regarding the terms of the loan evidenced by
this Note and supercede all oral statements and prior writings relating to that
loan. If any provision of this Note cannot be enforced, the remaining portions
of this Note shall continue in effect. The Borrower agrees that the Bank may
provide any information or knowledge the Bank may have about the Borrower or
about any matter relating to this Note or the Related Documents to BANK ONE
CORPORATION, or any of its subsidiaries or affiliates or their successors, or to
any one or more purchasers or potential purchasers of this Note or the Related
Documents. The Borrower agrees that the Bank may at any time sell, assign or
transfer one or more interests or participations in all or any part of its
rights and obligations in this Note to one or more purchasers whether or not
related to the Bank.

WAIVER OF SPECIAL DAMAGES. THE BORROWER WAIVES, TO THE MAXIMUM EXTENT NOT
PROHIBITED BY LAW, ANY RIGHT THE UNDERSIGNED MAY HAVE TO CLAIM OR RECOVER FROM
THE BANK IN ANY LEGAL ACTION OR PROCEEDING ANY SPECIAL, EXEMPLARY, PUNITIVE OR
CONSEQUENTIAL DAMAGES.

JURY WAIVER. THE BORROWER AND THE BANK (BY ITS ACCEPTANCE HEREOF) HEREBY
VOLUNTARILY, KNOWINGLY, IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY RIGHT TO HAVE
A JURY PARTICIPATE IN RESOLVING ANY DISPUTE (WHETHER BASED ON CONTRACT, TORT, OR
OTHERWISE) BETWEEN THE BORROWER AND THE BANK ARISING OUT OF OR IN ANY WAY
RELATED TO THIS NOTE OR THE OTHER RELATED DOCUMENTS. THIS PROVISION IS A
MATERIAL INDUCEMENT TO THE BANK TO PROVIDE THE FINANCING EVIDENCED BY THIS NOTE.

                                         Borrower:

Address: 2051 Waukegan Road              Alltech Associates, Inc.
         Deerfield, IL 60056

                                         By: /s/ Geoffry Matlin
                                             -----------------------------------
                                                 GEOFFRY MATLIN
                                             -----------------------------------
                                             Printed Name                Title

                                        4

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