Document:

Exhibit 10(a)

	
  JP MORGAN

  	
   

  	
  FIXED
  RATE PROMISSORY NOTE

  
	
   

  	
   

  	
  (Multiple
  Loans)

  
	
   

  	
   

  	
  New
  York, New York

  
	
   

  	
   

  	
  August
  15, 2006

  

 

For
value received, the undersigned (the “Borrower”) unconditionally promises to
pay to the order of JPMORGAN CHASE BANK, NATIONAL ASSOCIATION (the “Bank”), at
its office located at 270 Park Avenue, New York, New York 10017, the principal
amount of Three Hundred Fifty Million and 00/100 Dollars
($350,000,000.00) or, if less, the aggregate unpaid principal amount
of all loans made by the Bank to the Borrower and outstanding under this Note
on the maturity date(s) as evidenced by the Bank’s records as provided in the
fifth paragraph hereof.

The
Borrower promises to pay interest on the unpaid balance of the principal amount
of each such loan for each day outstanding at a fixed rate per annum equal to
the rate as evidenced in the Bank’s records as provided in the fifth paragraph
hereof; provided that principal and (to the extent permitted by law) interest
not paid when due (whether at stated maturity, by acceleration or otherwise)
shall bear interest for each day overdue at a variable rate per annum equal to:
(a) the higher of: (i) the Federal Funds Rate plus 1/2 of 1% and (ii) the Prime
Rate; plus (b) 2%.  “Federal Funds Rate”
means, for any day, the rate per annum equal to the weighted average of the
rates on overnight Federal Funds transactions as published by the Federal
Reserve Bank of New York for such day (or for any day that is not a banking day
in New York City, for the immediately preceding banking day).  “Prime Rate” means, for any day, that rate of
interest from time to time announced by the Bank at its principal office as its
prime rate, as in effect for such day in accordance with announcements by the
Bank of changes in such rate.  Interest
shall be calculated on the basis of a year of 360 days and paid for the actual
number of days elapsed (including the first day but excluding the last
day).  Interest on each loan shall be due
and payable at the maturity thereof (and quarterly, if requested by the Bank);
provided, however, that interest accruing on any amount not paid when due shall
be payable upon demand.  In no case shall
the interest on this Note exceed the maximum amount which the Bank may charge
or collect under applicable law.

Each
loan hereunder may be prepaid in whole but not in part, provided that accrued
and unpaid interest is paid on the date of such prepayment, together with any
compensation payable in accordance with the following.  If there is any payment (whether by voluntary
prepayment, acceleration or otherwise) of a loan under this Note on a date
other than the scheduled maturity date set forth in the first paragraph hereof,
then the Borrower will pay the Bank on demand such amount as will be sufficient
in the reasonable opinion of the Bank to compensate it for any loss, cost or
expense which the Bank determines is attributable thereto.  Without limiting the foregoing, such
compensation shall include an amount equal to the excess, if any, of: (a) the
aggregate amount of interest which otherwise would have accrued on the
principal amount so paid for the period from and including the date of payment
to but excluding such maturity date at the rate of interest provided herein
over (b) the amount of interest the Bank would pay (as determined by the Bank
in good faith, such determination to be conclusive) on a deposit placed with
the Bank on the date of such payment in an amount comparable to such principal
amount and with a maturity comparable to such period.

 

All
payments under this Note shall be made without set-off or counterclaim in
lawful money of the United States of America and in immediately available funds
at the Bank’s principal office specified above. 
If any loan evidenced by this Note becomes due and payable on a day
which is not a banking day in New York City, the maturity of such loan shall be
extended to the next succeeding banking day, and interest shall be payable for
such extension on such loan at the rate of interest specified in this Note.  The Bank may (but shall not be obligated to)
debit the amount of any payment which is not made when due to any deposit
account of the Borrower with the Bank.

The
date, amount, rate of interest and maturity date of each loan under this Note
and each payment of principal, loan(s) to which such principal is applied
(which shall be at the discretion of the Bank) and the outstanding principal
balance of loans shall be recorded by the Bank on its books and, at the
discretion of the Bank prior to any transfer of this Note or at any other time,
may be endorsed by the Bank on a schedule. 
Any such endorsement shall be conclusive in the absence of manifest
error.

If
any of the following events of default shall occur: (a) the Borrower fails to
pay any liability to the Bank under this Note when due and payable; (b) the
Borrower or any third party supporting or liable with respect to this Note (a “Third
Party”) shall breach any representation, warranty or covenant in this Note or
other document delivered in connection with this Note (this Note and any such
document being a “Facility Document”) or in any certificate, opinion or
financial or other statement delivered in connection with a Facility Document;
(c) the Borrower or any Third Party shall fail to pay any other indebtedness
when due and payable or if there shall be any default by the Borrower or such
Third Party thereunder; (d) the Borrower or any Third Party shall become
insolvent (however evidenced) or shall seek any relief under any bankruptcy or
similar law of any jurisdiction (or any person shall seek such relief against
the Borrower or such Thirty Party); (e) any Facility Document shall at any time
cease to be in full force and effect or its validity or enforceability shall be
disputed or contested; or (f) any lien or security interest securing this Note
shall cease to create a valid and perfected first priority lien or security
interest in the property purported to be subject thereto; THEN, if the Bank
shall elect by notice to the Borrower, the unpaid principal amount of this
Note, together with interest and any other amounts due hereunder shall become
forthwith due and payable; provided that in the case of an event of default
under (d) above, such amounts shall automatically become due and payable
without any notice or other action by the Bank.

The
Borrower waives presentment, notice of dishonor, protest and any other
formality with respect to this Note.

The
Borrower shall reimburse the Bank on demand for all costs, expenses and charges
(including, without limitation, fees and charges of external legal counsel for
the Bank and costs allocated by its internal legal department) in connection
with the preparation, performance or enforcement of this Note.

 2
 

 

This
Note does not create and shall not be construed to create any contractual
commitment to lend by the Bank.

This
Note shall be binding on the Borrower and its successors and assigns and shall
inure to the benefit of the Bank and its successors and assigns; provided that
the Borrower may not delegate any obligations hereunder without the prior
written consent of the Bank.  Without
limiting any provision of this Note, the obligations under this Note shall
continue in full force and effect and shall be binding on: (a) the estate of
the Borrower if the Borrower is an individual; and (b) any successor
partnership and on previous partners and their respective estates if the
Borrower is a partnership, regardless of any change in the partnership as a
result of death, retirement or otherwise.

THIS
NOTE SHALL BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK.  THE BORROWER CONSENTS TO THE NONEXCLUSIVE
JURISDICTION AND VENUE OF THE STATE OR FEDERAL COURTS LOCATED IN THE CITY OF
NEW YORK.  SERVICE OF PROCESS BY THE BANK
IN CONNECTION WITH ANY SUCH DISPUTE SHALL BE BINDING ON THE BORROWER IF SENT TO
THE BORROWER BY REGISTERED MAIL AT THE ADDRSES SPECIFIED BELOW.  THE BORROWER WAIVES ANY RIGHT THE BORROWER
MAY HAVE TO JURY TRIAL.

The
Borrower agrees that the Bank has accepted this Note to supersede and replace
loans made to the Borrower under the February 2, 2006 promissory note of the
Borrower previously executed and delivered to the Bank.  The Borrower agrees that all amounts shown
outstanding on the books and records of the Bank under such prior note shall be
deemed outstanding under this Note as of the date hereof.

	
  Address:

  	
   

  	
  6820 LBJ Freeway

  	
   

  	
  BRINKER INTERNATIONAL, INC.

  
	
   

  	
   

  	
  Dallas, Texas 75240

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Lynn Schweinfurth

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Lynn Schweinfurth

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President of Investor

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Relations and Treasurer

  
									

 

 3Exhibit 10(b)

August 17, 2006

Brinker International, Inc.

6820 LBJ Freeway

Dallas, Texas  75240

Attn:       Lynn Schweinfurth

Re:          Uncommitted Line of Credit

Ladies and Gentlemen:

We
are pleased to advise you that BANK OF AMERICA, N.A. (the “Lender”) has
established for Brinker International, Inc., a Delaware corporation (the “Borrower”),
an uncommitted line of credit with aggregate advances (“Loans”)
outstanding thereunder not at any time to exceed 50,000,000.  The terms and conditions of the line of
credit are as follows:

	
  Loans Discretionary:

  	
   

  	
  All Loans under this line of credit shall be at the
  sole discretion of the Lender.  This
  letter is not a commitment by the Lender to extend credit.  Without limiting the generality of the
  foregoing, no Loan shall be made after the Expiration Date.

  
	
   

  	
   

  	
   

  
	
  Principal:

  	
   

  	
  The outstanding principal of each Loan shall be due
  and payable on the earlier of (a) the maturity date for such Loan agreed to
  by the Lender and the Borrower at time such Loan is made, and (b) the
  Maturity Date.

  
	
   

  	
   

  	
   

  
	
  Interest:

  	
   

  	
  Each Loan shall bear interest at the rate of LIBOR
  plus 0.23% at the time such Loan is made. 
  Accrued and unpaid interest on each Loan shall be due and payable on
  the date that such Loan is payable.  If
  the term of a Loan is more than 90 days (or, if expressed in months, three
  months), interest on such Loan shall also be payable on the 90th day or last day of the third month after the
  making of such Loan and on each 90th day or last day of each third month
  thereafter, as applicable.

  
	
   

  	
   

  	
   

  
	
  Expiration Date:

  	
   

  	
  August 16, 2007

  
	
   

  	
   

  	
   

  
	
  Maturity Date:

  	
   

  	
  364 days from closing.

  

 

 1
 

 

 

	
  Requests for Loans:

  	
   

  	
  Any request for a Loan must be received by the
  Lender at the address, telephone number or facsimile number listed below the
  Lender’s signature not later than 11:00 a.m., EST time, on the date of the
  requested Loan (which must be a day on which the Lender is open to conduct
  substantially all of its business).

  
	
   

  	
   

  	
   

  
	
  Documentation:

  	
   

  	
  The Loans shall be evidenced by a promissory note
  satisfactory in form and substance to the Lender executed by the
  Borrower.  The Borrower shall execute
  and deliver to the Lender such other documents as the Lender may reasonably
  request from time to time.

  
	
   

  	
   

  	
   

  
	
  Notice:

  	
   

  	
  The Lender hereby notifies the Borrower that
  pursuant to the requirements of the USA Patriot Act (Title III of Pub.L.
  107-56 (signed into law October 26, 2001)) (the “Act”), the Lender is
  required to obtain, verify and record information that identifies the
  Borrower, which information includes the name and address of the Borrower and
  other information that will allow the Lender to identify the Borrower in
  accordance with the Act.

  

 

Please
indicate your acknowledgment of the foregoing by signing and returning to the
Lender the enclosed copy of this letter at the address shown on the first page
hereof.

	
  

  	
   

  	
  Very truly yours,

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BANK OF AMERICA, N.A.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/ John Schmidt

  
	
   

  	
   

  	
  Name:

  	
  John Schmidt

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Address: 

  	
   

  	
  100 Federal Street

  
	
   

  	
   

  	
  Mail Stop: 

  	
  MA5-100-09-01 
  Boston, MA  02110

  
	
   

  	
   

  	
  Telephone:

  	
  (617) 434-4044

  
	
   

  	
   

  	
  Facsimile:

  	
  (617) 434-0637

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Acknowledged:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  BORROWER

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Lynn Schweinfurth

  	
   

  	
   

  	
   

  	
   

  
	
  Name: 

  	
  Lynn Schweinfurth

  	
   

  	
   

  	
   

  
	
  Title:

  	
  Vice President of Investor Relations and Treasurer

  	
   

  	
   

  	
   

  
										

 

 2

 

MASTER
PROMISSORY NOTE

	
  $50,000,000

  	
   

  	
  August 17, 2006

  

 

FOR
VALUE RECEIVED, the undersigned, Brinker International, Inc., a Delaware
corporation (the “Borrower”), hereby promises to pay to the order of
BANK OF AMERICA, N.A. (the “Lender”), at its office at 6820 LBJ Freeway,
Dallas, Texas  75240 (or at such other
place as the Lender may designate from time to time), in lawful money of the
United States of America and in immediately available funds, the principal
amount of fifty million Dollars ($50,000,000) or such lesser amount as shall
equal the aggregate unpaid principal amount of the advances (the “Loans”)
made by the Lender to the Borrower under this Master Promissory Note (the “Note”),
and to pay interest on the unpaid principal amount of each such Loan at the
rates per annum and on the dates specified below.

Each
Loan hereunder shall be at the sole discretion of the Lender.  Each Loan shall have a maturity date and
shall bear interest at the rate per annum quoted to the Borrower by the Lender
and accepted by the Borrower prior to the making of such Loan (which acceptance
shall in any event be deemed to occur upon receipt by the Borrower of the
proceeds of any Loan).  Each Loan, and
accrued and unpaid interest thereon, shall be due and payable, on the earlier
of (a) the maturity date of such Loan, or (b) August 16, 2007.  No Loan shall have a maturity of more than
180 days (6 months).  If the term of a
Loan is more than 90 days (three months), interest on such Loan shall also be
payable on the last day of the third month after the making of such Loan and on
each last day of each third month thereafter. 
The Lender may, if and to the extent any payment is not made when due
hereunder, charge from time to time against any or all of the Borrower’s
accounts with the Lender any amount so due.

The
date, amount, interest rate, and maturity date of each Loan, and each payment
of principal and interest hereon, shall be recorded by the Lender on its books,
which recordations shall, in the absence of manifest error, be conclusive as to
such matters; provided, that the failure of the Lender to make any such
recordation or any error therein shall not limit or otherwise affect the
obligations of the Borrower hereunder.

The
Borrower may not prepay any Loan in whole or in part without the Lender’s prior
written consent; provided, however, that if any such prepayment
is made the Borrower shall, at the time of prepayment, compensate the Lender
for any loss, cost, or expense that the Lender incurs as a result of such
prepayment.  In addition, the Borrower
shall compensate the Lender for any loss, cost or expense that the Lender
incurs as a result of a prepayment by reason of acceleration of the
indebtedness hereunder.

Interest
shall be computed on the basis of a year of 360 days and the actual days
elapsed (including the first day but excluding the last day).  Overdue principal and, to the extent
permitted by applicable law, interest shall bear interest, payable upon demand,
for each day from and including the due date to but excluding the date of
actual payment at a rate per annum equal to the sum of 2% plus the rate of
interest publicly announced by the Lender from time to time as its prime
rate.  The Lender’s prime rate is a rate
set by the Lender based upon various factors including the Lender’s cost and
desired return, general economic conditions and other factors, and is used as a
reference point for pricing some loans, which may be priced at, above, or below
such announced rate.  Whenever any
payment under this Note is due on a day that is not a day the Lender is open to
conduct substantially all of its business, such payment shall be made on the
next succeeding day on which the Lender is open to conduct substantially all of
its business, and such extension of time shall in such case be included in the
computation of the payment of interest.

 1
 

 

Each
of the following shall constitute an Event of Default hereunder:  (a) the Borrower shall fail to pay when due
any principal of or interest on any Loan; (b) a default or event of default
shall occur under the terms of any other indebtedness for which the Borrower or
any of its subsidiaries is liable, whether as principal obligor, guarantor, or
otherwise having an aggregate principal amount (including undrawn committed or
available amounts and including amounts owing to all credits under any combined
or syndicated credit arrangement) in excess of $100,000; (c) any
representation, warranty, certification, or statement made or deemed made by
the Borrower to the Lender shall prove to have been incorrect or misleading in
any material respect; (d) the Borrower shall dissolve, liquidate, or terminate
its legal existence or shall convey, transfer, lease, or dispose of (whether in
one transaction or a series of transactions) all or substantially all of its
assets to any person or entity; (e) a petition shall be filed by or against the
Borrower or any of its subsidiaries under any law relating to bankruptcy,
reorganization, or insolvency; or (f) the Borrower or any of its subsidiaries
shall make an assignment for the benefit of creditors or fail generally to pay
its debts as they become due, or a receiver, trustee, or similar official shall
be appointed over the Borrower or any of its subsidiaries or a substantial
portion of any of their respective assets. 
If an Event of Default shall have occurred and be continuing, the Lender
may declare the outstanding principal of and accrued and unpaid interest on
this Note, together with all other amounts payable hereunder, to be immediately
due and payable without presentment, protest, demand, or other notice of any
kind, all of which are hereby waived by the Borrower; provided, however,
that upon the occurrence with respect to the Borrower of any event specified in
clause (e) of the preceding sentence, the outstanding principal and accrued and
unpaid interest on this Note, together with all other amounts payable
hereunder, shall become immediately due and payable without presentment,
protest, demand, or other notice of any kind, all of which are hereby waived by
the Borrower.

The
request of the Borrower for any Loan and the receipt by the Borrower of the
proceeds thereof shall be deemed a representation by the Borrower as of the
date of each such request or receipt that no Event of Default has occurred and
that the Borrower is duly authorized to incur such indebtedness hereunder.

No
failure or delay by the Lender in exercising, and no course of dealing with
respect to, any right, power, or privilege hereunder shall operate as a waiver
thereof nor shall any single or partial exercise of any other right, power, or
privilege hereunder preclude any other or further exercise thereof or the
exercise of any other right, power, or privilege.  The rights and remedies of the Lender
provided herein shall be cumulative and not exclusive of any other rights or
remedies provided by law.  If any
provision of this Note shall be held invalid or unenforceable in whole or in
part, such invalidity or unenforceability shall not affect the remaining
provisions hereof.  No provision of this
Note may be modified or waived except by a written instrument signed by the
Lender and the Borrower.

 2
 

 

The
Lender shall incur no liability to the Borrower in acting upon any telephone,
telex, or other communication that the Lender in good faith believes has been
given by an authorized representative of the Borrower.

The
Lender may assign to one or more banks or other entities all or any part of, or
may grant participations to one or more banks or other entities in or to all or
any part of, this Note or any Loan or Loans hereunder.

The
Borrower shall pay on demand all costs and expenses (including reasonable
attorney’s fees and the allocated costs of internal counsel) incurred by the
Lender in connection with any Event of Default or the enforcement or attempted
enforcement of this Note.

Notwithstanding
anything to the contrary contained herein, the interest paid or agreed to be
paid hereunder shall not exceed the maximum rate of non-usurious interest
permitted by applicable law (the “Maximum Rate”).  If the Lender shall receive interest in an
amount that exceeds the Maximum Rate, the excessive interest shall be applied
to the principal of this Note or, if it exceeds the unpaid principal, refunded
to the Borrower.  In determining whether
the interest contracted for, charged, or received by the Lender exceeds the
Maximum Rate, the Lender may, to the extent permitted by applicable law, (a)
characterize any payment that is not principal as an expense, fee, or premium
rather than interest, (b) exclude voluntary prepayments and the effects
thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal
parts the total amount of interest throughout the stated term of this Note.

This
Note shall be governed by and construed in accordance with the laws of the
State of Texas.  The Borrower hereby
submits to the nonexclusive jurisdiction of the United States District Court
and each state court in the City of Dallas for the purposes of all legal proceedings
arising out of or relating to this Note. 
The Borrower irrevocably waives, to the fullest extent permitted by law,
any objection that it may now or hereafter have to the laying of venue of any
such proceeding brought in such a court and any claim that any such proceeding
brought in such a court has been brought in an inconvenient forum.  The Borrower and the
Lender by acceptance of this Note hereby irrevocably waive any and all right to
trial by jury in any legal proceeding arising out of or relating to this Note.

THIS
NOTE AND ANY OTHER DOCUMENTS EXECUTED IN CONNECTION HEREWITH REPRESENT THE
FINAL AGREEMENT BETWEEN THE PARTEIS AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS
BETWEEN THE PARTIES.

	
   

  	
   

  	
  BORROWER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/  

  	
  Lynn Schweinfurth

  
	
   

  	
   

  	
  Name:

  	
  Lynn Schweinfurth

  
	
   

  	
   

  	
  Title:

  	
  Vice President of Investor Relations & Treasurer

  

 

 3

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