Document:

Revolving Credit Note

 Exhibit 10.2 
 REVOLVING CREDIT NOTE 
  

			
	$100,000,000	  	July 11, 2006
		  	Boston, Massachusetts

 FOR VALUE RECEIVED, Kronos Incorporated (the “Borrower”) promises to pay to Citizens
Bank of Massachusetts (the “Lender”), or order, the principal sum of One Hundred Million Dollars ($100,000,000), or, if less, the aggregate unpaid principal amount of all loans made by the Lender to the Borrower pursuant to the Revolving
Credit Agreement dated as of the date hereof (as amended and in effect from time to time, the “Credit Agreement”) between the Borrower and the Lender, on July 11, 2009, together with interest on the unpaid principal balance hereof
from time to time outstanding from the date hereof through and including the maturity date hereof at the times and at the rate provided in the Credit Agreement. 
 This Note evidences borrowings under and has been issued by the Borrower in accordance with the terms of the Credit Agreement. The Lender and any holder hereof is entitled to the benefits of the Credit Agreement and
the other Loan Documents, and may enforce the agreements of the Borrower contained therein, and any holder hereof may exercise the remedies provided for thereby or otherwise available in respect thereof, all in accordance with the terms thereof. All
capitalized terms used in this Note and not otherwise defined herein shall have the same meanings herein as in the Credit Agreement. 
 The
Borrower irrevocably authorizes the Lender to make or cause to be made, at or about the time of the Drawdown Date of any Revolving Credit Loan or at the time of receipt of any payment of principal of this Revolving Credit Note, an appropriate
notation in any record, including computer records, reflecting the making of such Revolving Credit Loan or (as the case may be) the receipt of such payment. The outstanding amount of the Revolving Credit Loans set forth in such record, including
computer records, maintained by the Lender with respect to any Revolving Credit Loans shall be prima facie evidence of the principal amount thereof owing and unpaid to the Lender, but the failure to record, or any error in so recording, any
such amount in any such record shall not limit or otherwise affect the obligation of the Borrower hereunder or under the Credit Agreement to make payments of principal of and interest on this Revolving Credit Note when due. 
 The Borrower has the right in certain circumstances and the obligation under certain other circumstances to prepay the whole or part of the principal of
this Resolving Credit Note on the terms and conditions specified in the Credit Agreement. 
 If any one or more Events of Default shall
occur, the entire unpaid principal amount of this Note and all of the unpaid interest accrued thereon may become or be declared due and payable in the manner and with the effect provided in the Credit Agreement. 
 The Borrower will pay on demand all attorneys’ reasonable fees and out-of-pocket expenses incurred by the Lender in the administration of all
liabilities and obligations of the Borrower to the Lender, including, without limitation, costs and expenses associated with travel on behalf of the Lender. The Borrower will also pay on demand, without limitation, all 

 
attorneys’ reasonable fees, out-of-pocket expenses incurred by the Lender’s attorneys and all costs incurred by the Lender, including, without
limitation costs and expenses associated with travel on behalf of the Lender, which costs and expenses are directly or indirectly related to the protection or enforcement of any of the Lender’s rights against the Borrower or any such endorser
or guarantor to the Lender (whether or not suit is instituted by or against the Lender). 
 No delay or omission on the part of the Lender in
exercising any right hereunder shall operate as a waiver of such right or of any other right of the Lender, nor shall any delay, omission or waiver on any one occasion be deemed a bar to or waiver of the same or any other right on any future
occasion. 
 Except as required by law or as otherwise provided in the Credit Agreement or any other Loan Document, the Borrower and each
endorser and guarantor of this Note waive presentment, demand, notice, protest and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement hereof and also waive any delay on the part of the
Lender. Each assents to any extension or other indulgence (including, without limitation, the release or substitution of collateral) permitted the Borrower or any such endorser or guarantor by the Lender with respect to this Note and/or any
collateral given to secure this Note and/or any other liability of the Borrower or such endorser or guarantor to the Lender, and no such discharge or release of any other party primarily or secondarily liable hereon shall discharge or otherwise
affect the liability of the Borrower or any such endorser or guarantor to the Lender. 
 None of the terms or provisions of this Note may be
excluded, modified, or amended except by a written instrument duly executed on behalf of the Borrower expressly referring hereto and setting forth the provision so excluded, modified or amended. 
 This Note shall be binding upon the Borrower and each endorser and guarantor hereof and upon their heirs, successors and representatives, and shall inure
to the benefit of the Lender and its successors, endorsees and assigns. 
 The liabilities of the Borrower and any endorser or guarantor of
this Note are joint and several. No person obligated on account of this Note may seek contribution from any other person also obligated unless and until all liabilities to the Lender of the person from whom contribution is sought have been satisfied
in full. 
 THIS NOTE IS DELIVERED TO THE LENDER AT ITS PRINCIPAL OFFICE IN BOSTON, MASSACHUSETTS, SHALL BE GOVERNED BY, AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS, WITHOUT REGARD TO ITS PRINCIPLES OF CONFLICTS OF LAWS AND SHALL TAKE EFFECT AS A SEALED INSTRUMENT. THE BORROWER AND EACH ENDORSER AND GUARANTOR OF THIS NOTE SUBMIT TO THE
JURISDICTION OF THE COURTS OF THE COMMONWEALTH OF MASSACHUSETTS AND OF THE UNITED STATES DISTRICT COURTS SITUATED THEREIN FOR ALL PURPOSES WITH RESPECT TO THIS NOTE, ANY COLLATERAL GIVEN TO SECURE THEIR RESPECTIVE LIABILITIES TO THE LENDER, AND
THEIR RESPECTIVE RELATIONSHIPS WITH THE LENDER. 
  

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 THE BORROWER HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL
ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY THE LENDER AGAINST THE BORROWER ON ANY MATTER WHATSOEVER ARISING OUT OF, IN CONNECTION WITH OR RELATED TO THIS NOTE. 
  

									
		 		 	BORROWER:
			
	WITNESS:	 		 	KRONOS INCORPORATED
				
	Signed in my Presence:	 		 	 By:
	 	/s/ Paul Lacy
		 		 		 	Title:	 	President

  

			
	
	/s/ Mark Julien
	Title: Treasurer and Chief Financial Officer of Kronos Incorporated

  

 - 3 -First Amendment to Revolving Credit, Term Loan and Security Agreement

 Exhibit 10.1 
 FIRST AMENDMENT TO REVOLVING CREDIT, TERM LOAN 
 AND 
 SECURITY AGREEMENT 
 This FIRST
AMENDMENT TO REVOLVING CREDIT, TERM LOAN AND SECURITY AGREEMENT (“Amendment”) is executed among FGDI, L.L.C., a limited liability company formed under the laws of the State of Delaware (“Borrower”), the financial
institutions which are now or which hereafter become a party hereto (collectively, the “Lenders” and individually a “Lender”) and CoBANK, ACB (“CoBank”), as agent for Lenders (CoBank, in such
capacity, the “Agent”), for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged effective May 31, 2006. 
 Recitals 
 1.    Borrower and CoBank executed a Revolving Credit, Term Loan and
Security Agreement (“Agreement”) on or about March 28, 2006. 
 2.    The Agreement, in part, requires
Borrower to meet certain financial covenants and restricts Borrower from incurring Indebtedness that is not subject to a Subordination Agreement. 
 3.    Borrower has requested CoBank to amend certain financial covenants applicable as of May 31, 2006, and to allow it to incur Indebtedness from FCStone Group, subject to a Subordination Agreement. 
 4.    CoBank is willing to amend the Agreement as requested by Borrower, subject to the terms and conditions of this Amendment.

 Agreements 
 1.    Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings given them in the Agreement. 
 2.    The definition of Indebtedness is hereby amended to read: 
 “Indebtedness” of a Person at a particular date shall mean all obligations of such Person which in accordance with GAAP would be classified upon a balance sheet as liabilities (except capital stock and surplus earned or
otherwise) and in any event, without limitation by reason of enumeration, shall include all indebtedness, debt and other similar monetary obligations of such Person whether direct or guaranteed, and all premiums, if any, due at the required
prepayment dates of such indebtedness, and all indebtedness secured by a Lien on assets owned by such Person, whether or not such indebtedness actually shall have been created, assumed or incurred by such Person. Any indebtedness of such Person
resulting from the acquisition by such Person of any assets subject to any Lien shall be deemed, for the purposes hereof, to be the equivalent of 
  

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 the creation, assumption and incurring of the indebtedness secured thereby, whether or not actually so created, assumed
or incurred. Notwithstanding anything to the contrary contained in this Agreement, in calculating the Total Debt to Adjusted Working Capital financial covenant set forth herein, the term “Indebtedness” shall exclude all non-recourse
indebtedness and amounts payable to AFG Asset Management under the AFG Asset Management Investment Facility Letter and to AFG Trust Finance under the AFG Trust Finance Credit Facility Letter.  
 3.    The definition of Net Worth is hereby amended to read: 
 “Net Worth” at a particular date, shall mean (a) the aggregate amount of all assets of Borrower as may properly be classified as
such in accordance with GAAP consistently applied and such other assets as are properly classified as “intangible assets”, less (b) the aggregate amount of all Indebtedness of Borrower except Indebtedness (up to $1,000,000) to
FCStone Group that is subject to a Subordination Agreement. 
 4.    The definition of Subordination Agreements is
hereby amended to read: 
 “Subordination Agreements” shall mean collectively the subordination and intercreditor agreements
with FCStone Financial, Inc. and FCStone Merchant Services, LLC, and the subordination agreement with FCStone Group, which are in form and substance acceptable to Agent in its sole discretion. 
 5.    Section 6.5(a) and (b) of the Agreement is hereby amended to read: 
 (a) Maintain, at all times, a Net Worth in an amount not less than (i) $8,600,000.00 through June 28, 2006,
(ii) $9,800,000.00 from June 29, 2006 through July 31, 2006, and (iii) $10,000,000.00 thereafter. 
 (b)
Maintain, at all times, Adjusted Working Capital in an amount not less than $5,300,000.00 through June 28, 2006 and $6,500,000.00 thereafter. 
 6.    Section 7.8 of the Agreement is hereby amended to read that Borrower shall not, until satisfaction in full of the Obligations and termination of this Agreement, or unless Agent otherwise agrees in
writing: 
 7.8    Indebtedness. 
 Create, incur, assume or suffer to exist any Indebtedness (exclusive of trade debt) besides (i) Indebtedness to Lenders;
(ii) Indebtedness incurred for Capital Expenditures permitted under Section 7.6 hereof; (iii) current operating liabilities (other than for borrowed money) incurred in the Ordinary Course of Business; (iv) Indebtedness to
FCStone LLC that consists of amounts owing by Borrower from the purchase and sale of margins and commodities in its FCStone, LLC margin and commodities accounts that are subject to control agreements in favor of Lenders and which amounts are
reasonable and incurred by Borrower in the Ordinary Course of Business; (v) Indebtedness to FCStone Trading that consists of amounts owing by Borrower from the purchase and sale of margins and commodities in its FCStone Trading margin and
commodities accounts that 

  

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 are subject to control agreements in favor of Lenders and which amounts are reasonable and incurred by
Borrower in the Ordinary Course of Business; (vi) Indebtedness to FCStone Financial, Inc. that is subject to a Subordination Agreement; (vii) Indebtedness to FCStone Merchant Services, LLC that is subject to a Subordination Agreement;
(viii) Indebtedness to AFG Trust Finance described in the AFG Trust Finance Credit Facility Letter so long as such indebtedness is without recourse to Borrower or any of its assets besides the Chinese currency deposits held in Chinese bank
accounts that are described in the AFG Trust Finance Credit Facility Letter; and (ix) up to $1,000,000 in Indebtedness to FCStone Group that is subject to a Subordination Agreement. 
 7.    Borrower represents and warrants to CoBank that no Default or Event of Default has occurred and is continuing under the
Agreement or any Other Document. 
 8.    Borrower hereby releases, waives and forever discharges CoBank, its
affiliates, and their shareholders, directors, officers, employees, and agents, from all known and unknown, absolute and contingent, claims, defenses, setoffs, counterclaims, causes of action, actions, suits or other legal proceedings of any kind
existing or accrued as of the date of this Amendment. 
 9.    Borrower shall reimburse CoBank for all
attorneys’ fees, legal costs, and other expenses incurred in connection with the negotiation, drafting, and execution of this Amendment. The amounts described in this paragraph shall be in addition to, and not in lieu of, the interest, fees and
other charges owing under the Agreement. 
 10.    The Agreement and Other Documents shall remain in full force and
effect except as modified by this Amendment. 
 11.    Borrower shall execute and deliver to CoBank such other documents
and shall take such additional actions as CoBank may request to carry out the intent and purposes of this Amendment. 
 12.    This Amendment may be executed in counterparts and shall be effective when each party has executed at least one counterpart hereof. 
 13.    This Amendment shall be governed by and construed in accordance with the laws of the State of Colorado and shall inure to the benefit of and being binding upon the parties hereto and their
respective successors and permitted assigns. 
 [The remainder of the page is intentionally left blank] 
  

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 14.     BORROWER AND COBANK EACH WAIVE THEIR RESPECTIVE RIGHTS TO DEMAND A TRIAL
BY JURY IN ANY LITIGATION OR OTHER LEGAL PROCEEDING. 
 Each of the parties has signed this Agreement as of the day and year first above
written. 
  

			
	 FGDI, L.L.C.
 as Borrower

		
	By:	 	 /s/ Steven J. Speck

	 Name:
	 	 Steven J. Speck

	 Title:
	 	 President and Chief Executive Officer

		
	 By:
	 	/s/ Jean Bratton
	 Name:
	 	 Jean Bratton

	 Title:
	 	Vice President and Chief Financial Officer
	
	 COBANK ACB,
 as Lender and as Agent

		
	 By:
	 	/s/ Theodore D. Tice
	 Name:
	 	 Theodore D. Tice

	 Title:
	 	 Vice President

	
	 Commitment Percentage: 100%

  
  
  
  
  
  
  
  
  
  
  

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 STATE OF MISSOURI             ) 
                                        
             ) ss. 
 COUNTY OF CLAY    
            ) 
 On this 28th day of June, 2006, before me personally came Steven
J. Speck, to me known, who, being by me duly sworn, did depose and say that he is the President and Chief Executive Officer of FGDI, L.L.C., the limited liability company described in and which executed the foregoing instrument; and that he signed
his name thereto by order of the management committee of said limited liability company. 
  

	
	 /s/    Rose M. Mulford

	 Notary Public for the State of Missouri
 My commission expires: Sept. 29,
2007             

 STATE OF MISSOURI             ) 
                                        
             ) ss. 
 COUNTY OF
CLAY                 ) 
 On this 28th day of June, 2006,
before me personally came Jean Bratton, to me known, who, being by me duly sworn, did depose and say that she is a Vice President and Chief Financial Officer of FGDI, L.L.C., the limited liability company described in and which executed the
foregoing instrument; and that she signed her name thereto by order of the management committee of said limited liability company. 
  

	
	 /s/    Rose M. Mulford

	 Notary Public for the State of Missouri
 My commission expires: Sept. 29,
2007             

  

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