Document:

EXECUTION VERSION

 

REVOLVING
CREDIT NOTE

 

	July 19, 2012	Dallas, Texas	$7,500,000.00

 

For value received, the undersigned (hereinafter
called “Maker”) promises to pay to the order of NTR METALS, LLC, a Texas limited liability company (together
with its successors and assigns, hereinafter called “Lender”) by wire transfer to a Deposit Account of Lender
designated from time to time by Lender to Borrower, in immediately available lawful money of the United States of America, the
sum of SEVEN MILLION FIVE HUNDRED THOUSAND AND 00/100 DOLLARS ($7,500,000.00), or so much thereof as may be advanced hereunder,
together with interest on the outstanding unpaid principal balance from the dates funded until the Maturity Date at the rate of
two percent (2.0%) per annum. All past due principal and interest shall bear interest at a rate of ten percent (10%) per annum
(the “Default Interest Rate”). Capitalized terms used in this note have the meanings assigned thereto in the
Loan Agreement (as defined below).

 

Principal and accrued interest on this note
are due and payable as follows:

 

(a)          Interest
as it accrues on the outstanding principal balance hereof shall be due and payable on the last Business Day of each September,
December, March, and June, beginning September 28, 2012, and on the Maturity Date; and

 

(b)          All
outstanding principal of this Note and all other Obligations shall be due and payable in full at 11:00 am, Dallas, Texas time,
on the date (the “Maturity Date”) that is the earlier of (i) August 1, 2014, (ii) the date that is twelve (12)
months after Lender gives Maker written notice demanding that all Obligations be paid in full, (iii) the date the Obligations are
accelerated in accordance with the Loan Agreement, or (iv) the date on which the Commitment terminates as provided in the Loan
Agreement.

 

The unpaid principal balance hereof shall
at no time exceed the sum of SEVEN MILLION FIVE HUNDRED THOUSAND DOLLARS. The unpaid principal balance of this note at any time
shall be the total amounts loaned or advanced hereunder by Lender, less the amount of payments or prepayments of principal made
hereon by or for the account of Maker. Advances hereunder are made at Lender’s sole discretion. It is contemplated that by
reason of prepayments hereon there may be times when no indebtedness is owing hereunder; but notwithstanding such occurrences,
this note shall remain valid and shall be in full force and effect as to loans or advances made pursuant to and under the terms
of this note subsequent to each such occurrence. All Advances and all payments or prepayments made hereunder on account of principal
or interest may be endorsed by Lender on a schedule on the last page hereof and on additional schedule pages attached hereto from
time to time by Lender if more space is necessary; failure to make any such endorsement, however, shall not affect the rights of
Lender or any obligations of Borrower to Lender hereunder or under any other Loan Documents. In the event that the aggregate Obligations
at any time, for any reason, exceed the Commitment, Maker covenants and agrees to pay the excess forthwith ON DEMAND; such excess
principal amount shall in all respects be deemed to be included among the Advances made pursuant to the other terms of this note
and the Loan Agreement and shall bear interest at the rates hereinabove stated.

 

REVOLVING CREDIT NOTE – Page 1

 

    	 

    	 

    

 

Advances hereunder may be made by Lender,
at its sole discretion, shall be deemed to have been made pursuant to (and shall in all respects be subject to) the terms of that
certain Loan Agreement (as the same may be amended from time to time, the “Loan Agreement”), dated of even date with
this note, by and between Maker and Lender.

 

If all Obligations are not paid in full
on the Maturity Date, or proceedings are had in bankruptcy, receivership, reorganization, arrangement or other legal proceedings
for collection hereof, Maker and each other Loan Party agree to pay Lender its collection costs, including attorney’s fees,
but in no event to exceed the maximum amount permitted by applicable law. Maker hereby expressly waives bringing of suit and diligence
in taking any action to collect any sums owing hereon and in the handling of any security, and Maker hereby consents to and agrees
to remain liable hereon regardless of any renewals, extensions for any period or rearrangements hereof, or partial prepayments
hereon, or any release or substitution of security herefore, in whole or in part, with or without notice, from time to time, before
or after maturity.

 

Upon the occurrence of an Event of Default
(as such term is defined in the Loan Agreement), this note shall become due and payable forthwith without demand, notice of default
or of intent to accelerate the maturity hereof, notice of nonpayment, presentment, protest or notice of dishonor, ALL OF WHICH
ARE HEREBY EXPRESSLY WAIVED BY MAKER AND EACH OTHER LOAN PARTY.

 

Maker reserves the option of prepaying the
principal of this note, in whole or in part, at any time after the date hereof without penalty. At the option of Lender, it may
demand (at any time at or after prepayment) all accrued and unpaid interest with respect to the principal amount prepaid through
the date of prepayment. All payments made hereunder, whether designated as payments of principal or interest, shall be applied
to the principal or interest of this note or to expenses provided for herein, or any combination of the foregoing, as directed
by Lender at its option.

 

Unless otherwise specified below, this note
shall be construed under and governed by the laws of the State of Texas (including applicable federal law), but in any event Chapter
346 of the Texas Finance Code (which regulates certain revolving credit loan accounts and revolving tri-party accounts) shall not
apply to the Advances evidenced by this note.

 

	 	DGSE COMPANIES, INC.,
	 	a Nevada corporation
	 	 
	 	By:	 
	 		William H. Oyster, President 

 

REVOLVING CREDIT NOTE – Page 2Form of Rights Certificate

 Exhibit 4.2 
 FORM OF 
 RIGHTS CERTIFICATE 

											
		 		 		 		 	+
		 		 		 		 	[Computershare Logo]	 
		 		 		 		 	250 Royall Street, Suite V	 	
		 	 SEARS HOLDINGS

CORPORATION
	 		 		 	 Canton MA 02021
 Information Agent:
 Georgeson
	 	
		 		 		 		 	Telephone 866 647 8872	 	
		 	[Address of Holder of Subscription Rights]	 		 		 		 	
		 		 		 	Account:	 	12345678901234	 	
		 		 		 	Subscription Rights:	 	12345678901234	 	

  

	
	  
 SEARS HOLDINGS CORPORATION SUBSCRIPTION RIGHTS CERTIFICATE FOR COMMON SHARES OF SEARS HOMETOWN AND OUTLET STORES, INC.

 

 OFFER EXPIRES AT 5:00 P.M., EASTERN TIME, ON
[            ], 2012 
 IN ORDER TO EXERCISE YOUR RIGHTS, YOU MUST
COMPLETE BOTH SIDES OF THIS CARD. 
 As the registered owner of this Subscription Rights Certificate you are the holder of the number of
Subscription Rights set forth below. As a holder of Subscription Rights, you are entitled to subscribe for the number of common shares (the “Common Shares”) of Sears Hometown and Outlet Stores, Inc. (the “Company”) pursuant to
the Basic Subscription Right and upon the terms and conditions and at the Subscription Price for each Common Share specified in the Prospectus relating thereto. The Subscription Rights represented hereby include the Over-Subscription Privilege for
holders of Subscription Rights, as described in the Prospectus. Pursuant to the Over-Subscription Privilege, holders of Subscription Rights who exercise their Basic Subscription Rights in full may also choose to subscribe for a portion of any Common
Shares that other holders of Subscription Rights do not purchase through the exercise of their Basic Subscription Rights. In addition, Sears Holdings Corporation (“Sears Holdings”) has the right to withdraw and cancel the Rights Offering
(as defined in the Prospectus) if, at any time prior to its expiration, the board of directors of Sears Holdings determines, in its sole discretion, that the Rights Offering is not in the best interest of Sears Holdings or its stockholders, or that
market conditions are such that it is not advisable to consummate the Rights Offering. If Sears Holdings cancels the Rights Offering, the subscription agent will return all subscription payments received, without interest or penalty, as soon as
practicable. 
 Registered owners of the common shares of Sears Holdings will receive their basic and over-subscription shares via an
uncertificated share credit to their existing accounts. Confirmation statements for basic and over-subscription share subscriptions reflecting uncertificated share credits will be delivered on the
[                    ] business day following the Expiration Date and after all over-subscription allocations have been effected. 

THE SUBSCRIPTION RIGHT IS TRANSFERABLE 
 Payment must be in United States dollars, whereby only cashier’s or certified checks drawn upon a United States bank and made payable to Computershare Inc. will be accepted. Please reference your
rights card control number on your cashier’s or certified check. 
 The registered owner of this Subscription Rights Certificate named
above, or its assignee, is entitled to the number of Subscription Rights shown below to subscribe for and purchase Common Shares. Sears Holdings will distribute to each holder of its common stock as of the Record Date (as that term is defined in the
Prospectus) one Subscription Right for each full common share owned by that stockholder as of the Record Date. Pursuant to the Basic Subscription Right and upon the terms and conditions specified in the Prospectus, each Subscription Right will
entitle its holder to purchase from Sears Holdings [                ] of a share of Company common stock. Additionally, and as described in the Prospectus,
holders of Subscription Rights who fully exercise all of their basic Subscription Rights, after giving effect to any purchases or sales of Subscription Rights by them prior to such exercise, may also make a request to purchase additional Common
Shares, through exercise of the Over-subscription Privilege, although neither Sears Holdings nor the Company can assure you that any over-subscriptions will be filled. To subscribe for additional Common Shares pursuant to the Over-Subscription
Privilege, you must pay the Subscription Price for each Common Share you wish to purchase, subject to the terms of the Over-Subscription Privilege as described in the Prospectus. 
 Holders of Sears Holdings common stock as of the Record Date who participate in the Rights Offering will receive their basic and over-subscription shares via an uncertificated share credit to their
existing accounts. Any refund in connection with an over-subscription will be returned, without interest or penalty, as soon as practicable after the expiration of the Rights Offering and after all over-subscription allocations have been effected.
This Subscription Rights Certificate may be transferred by duly completing and signing the assignment on the reverse side hereof. 

ADDITIONAL INFORMATION 
 For a more
complete description of the terms and conditions of this Rights Offering, please refer to the Prospectus. Additional copies of the Prospectus are available upon request from the information agent, Georgeson Inc., at (866) 695-6074 (toll-free). You
are encouraged to contact Georgeson Inc. if you have any questions concerning this Rights Offering. 
  

											
	    Holder ID	 	COY	 	Class	 	Rights Qty Issued	 	Rights Cert #	  	
	    [            ]	 	BBX	 	Subscription Rights	 	[            ]	 	[            ]	  	

  

					
	Signature of Owner and U.S. Person for Tax Certification	 	Signature of Co-Owner (if more than one registered holder listed)	 	Date (mm/dd/yyyy)

 
									
	    	  		 	    	  		 	    

  

									
	¢            1 2 3 4 5 6 7 8	  	C L S            X R T
2               	 	C O Y C	  	1 2 3 4 5 6 . 7 8	  	+

 [END OF FRONT OF RIGHTS CERTIFICATE] 

To subscribe for your basic shares please complete line “A” on the card below. If you are not subscribing for your full Basic Subscription,
check box “D” below and we will attempt to sell any remaining unexercised Subscription Rights. To subscribe for any over-subscription shares please complete line “B” below. 

Please Note: Pursuant to the Over-Subscription Privilege, only holders of Subscription Rights who exercise their Basic Subscription Rights in full
may also choose to subscribe for a portion of any Common Shares that other holders of Subscription Rights do not purchase through the exercise of their Basic Subscription Rights. 
 Payment of Shares: Full payment for both the basic and over-subscription shares must accompany this subscription. Please reference your rights certificate number on your cashier’s or certified
check. 
 If the aggregate Subscription Price paid by a holder of Subscription Rights is insufficient to purchase the number of Common Shares
that the holder indicates are being subscribed for, or if a holder of Subscription Rights does not specify the number of Common Shares to be purchased, then the holder of Subscription Rights will be deemed to have exercised first, the Basic
Subscription Right (if not already fully exercised) and second, the Over-Subscription Privilege to purchase Common Shares to the full extent of the payment rendered. If the aggregate Subscription Price paid by a holder of Subscription Rights exceeds
the amount necessary to purchase the number of Common Shares for which the holder of Subscription Rights has indicated an intention to subscribe, such excess will be returned to such holder of Subscription Rights, without interest or penalty, as
soon as practical following the expiration of the Rights Offering. 
 FOR A MORE COMPLETE DESCRIPTION OF THE TERMS AND CONDITIONS OF THIS RIGHTS
OFFERING, PLEASE REFER TO THE COMPANY’S PROSPECTUS, WHICH IS INCORPORATED HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS ARE AVAILABLE UPON REQUEST FROM THE INFORMATION AGENT, GEORGESON INC., BY CALLING TOLL-FREE AT (866) 695-6074. 

Please complete all applicable information and return to the Subscription Agent: 

COMPUTERSHARE INC. 
  

							
		 	By First Class Mail:	  	By Hand or Overnight Courier:	  	
				
		 	 Computershare
 c/o Voluntary Corporate Actions
 P.O. Box 43011

Providence, RI 02940-3011
	  	 Computershare
 c/o Voluntary Corporate Actions
 250 Royall Street

Suite V

Canton, MA 02021
	  	

 Delivery of this Subscription Rights Certificate to an address other than as set forth above does not
constitute a valid delivery. 

 

 A. Exercise of Basic Subscription Rights (1 Subscription Right = [    ] of a share)

  

									
	                            
	 	×	 	[                ] of a share*	 	=	  	                             
         
	(no. of rights)	 		 		 		  	  (no. of shares)
					
	                            
	 	×	 	$[                ] per whole share	 	=	  	$                             
       
	(no. of shares)	 		 	(Subscription Price)	 		  	   (Cost for Basic

  Subscription Shares)

  

	*	Fractional shares resulting from the exercise of Basic Subscription Rights will be eliminated by rounding down to the nearest whole share. 

B. Exercise Over-Subscription Privilege* 
  

									
					
	                            
	 	×	 	$[                ] per share	 	=	  	$                             
       
	(no. of shares)	 		 	(Subscription Price)	 		  	   (Cost for Over-

  Subscription Shares)

  

	*	The Over-Subscription Privilege may only be exercised if the Basic Subscription Right is exercised in full. 

 

									
	C. Total Amount Enclosed:	 		  	$                             
       
		 		 		 		  	   (Cost for Total

  Subscription Shares)

 SECTION 1. TO SUBSCRIBE: I acknowledge that I have received the Prospectus for the Rights Offering and I
hereby irrevocably subscribe for the number of Common Shares indicated as the total of A and B hereon upon the terms and conditions specified in the Prospectus and incorporated by reference herein, receipt of which is acknowledged. I hereby agree
that if I fail to pay in full for the Common Shares for which I have subscribed, the Company may exercise any of the remedies provided for in the Prospectus. 
 TO SELL: If I have checked the box on line D, I authorize the sale of Subscription Rights by the Subscription Agent according to the procedures described in the Prospectus. 

 
  
 Print full name of Assignee and Social Security Number 
  

 
 Address for delivery of certificate representing
Unexercised Subscription Rights 
 If permanent change of address, check here:   ̈

 Daytime telephone number: (            ) 

Evening telephone number: (            ) 

Email address:

 D. Sell any Unexercised Remaining Subscription
Rights         ̈ 
 E. Deliver a
certificate
representing                                       
                               
 Unexercised Subscription Rights to the Assignee at the address in Section 1 
 F.
Transfer                                       
                                         
                                

Subscription Rights to the Transferee designated in Section 2 below 
 SECTION 2. TO TRANSFER RIGHTS: (Per Line F): For value received,
                     of the Subscription Rights represented by this Form of Exercise, Sale or Transfer are assigned to: 

 
  
  

Print full name of Assignee and Social Security Number 
  

 
  
 Print Full Address 
  
  

Signature(s) of Assignor(s) 
 The signature(s) on
this Form of Exercise, Sale or Transfer must correspond with the name(s) of the registered holder(s) exactly as it appears on the face of the Subscription Rights Certificate without any alteration or change whatsoever. In the case of joint
registered holders, each person must sign this Form of Exercise, Sale or Transfer in accordance with the foregoing. If you sign this Form of Exercise, Sale or Transfer in your capacity as a trustee, executor, administrator, guardian,
attorney-in-fact, agent, officer of a corporation or other fiduciary or representative, you must indicate the capacity in which you are signing when you sign and, if requested by the Subscription Agent in its sole and absolute discretion, you must
present to the Subscription Agent satisfactory evidence of your authority to sign in that capacity. 
 If you wish to transfer your Subscription
Rights, then your signature must be guaranteed by an Eligible Guarantor Institution, as that term is defined in Rule 17Ad-15 of the Securities Exchange Act of 1934, as amended, which may include: (a) a commercial bank or trust company; (b) a member
firm of a domestic stock exchange; or (c) a savings bank or credit union. 
  

 
 Signature (name of bank or firm): 

 
  
 Guaranteed by (signature/title): 

 

	
	DELIVERY OF THIS FORM OF EXERCISE, SALE OR TRANSFER TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE DOES NOT CONSTITUTE A VALID DELIVERY.

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