SEC Contract Filing

Filing Date: 2015-12-29

Document Content:
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<TYPE>EX-10.6
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<FILENAME>d112118dex106.htm
<DESCRIPTION>EX-10.6
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Exhibit 10.6 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" ALIGN="right"><B>Promissory Note</B></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="line-height:2.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #000000">&nbsp;</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Funding Date: December 23, 2015</P></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>FOR VALUE RECEIVED, LGSI EQUIPMENT OF INDIANA, LLC</B>, a(n) Indiana limited liability company, (&#147;Maker&#148;),
promises to pay to the order of <B>KEY EQUIPMENT FINANCE, A DIVISION OF KEYBANK NATIONAL ASSOCIATION</B> (&#147;Holder&#148;), the sum of Ten Million Thirty-Seven Thousand Six Hundred Seventy-One and 20/100 Dollars ($10,037,671.20) in lawful money
of the United States of America (the &#147;Principal&#148;), with interest thereon as hereafter provided (&#147;Interest&#148;), to be paid in the manner set forth herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <B>Relationship to Master Security Agreement</B>. This Note is secured by the Master Security Agreement dated as of December&nbsp;23, 2015 and Collateral
Schedule No.&nbsp;1 dated as of December&nbsp;23, 2015 (together, the &#147;Master Security Agreement&#148;), and all terms and conditions contained therein are incorporated herein by reference. Capitalized terms used herein without definition shall
have the meaning given them in the Master Security Agreement. Maker reaffirms all terms, conditions, representations and warranties contained in the Master Security Agreement except as they may be modified hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. <B>Interest Rate. </B>Interest on the balance of the Principal outstanding on this Note shall accrue from the Funding Date of this Note and shall be due
and payable at a fixed rate of 3.75&nbsp;% per annum (the &#147;Interest Rate&#148;). Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. <B>Usury; Place of Payment</B>. (a)&nbsp;Holder does not intend to charge any amount in excess of the maximum amount of time price differential or
interest, as applicable, permitted to be charged or collected by applicable law and any such excess amounts will be applied to payments due under this Note, in inverse order of maturity, with any surplus refunded to Maker. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Payment of the Principal and Interest hereunder shall be made to Holder at 11030 Circle Point Road, 2<SUP
STYLE="font-size:85%; vertical-align:top">nd</SUP> Floor, Westminster, CO 80020, or at such other place as Holder may designate from time to time in writing. Holder reserves the right to require payment on this Note to be made by wired federal funds
or other immediately available funds. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <B>Repayment Terms</B>. The Principal and Interest shall be due and payable in sixty (60)&nbsp;consecutive
monthly installments payable in arrears, each in an amount equal to One Hundred Eighty-Three Thousand Seven Hundred Twenty-Eight and 71/100 Dollars ($183,728.71) commencing and payable on the date which is one month after the Funding Date and on the
same day of each month thereafter (each, a &#147;Note Payment Date&#148;). In addition, Maker will pay a late payment charge of five percent (5%)&nbsp;of any payment due hereunder that is not paid on or before the date due hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. <B>Prepayment</B>. Maker may not prepay, in whole or in part, the principal outstanding hereunder; <U>provided</U>, <U>however</U>, that so long as no
Default shall have occurred and be continuing and Maker shall have given Holder at least five (5)&nbsp;days prior written notice, Maker may prepay, in whole or in part, the principal outstanding hereunder as follows: </P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Collateral Substitution</U></B>. Maker may replace any item of Collateral with collateral that is free of all liens and, in Holder&#146;s sole but reasonable opinion, of the same, value, remaining useful life and
utility as the replaced Collateral immediately preceding the replacement, assuming such replaced Collateral was in the condition required by the Loan Documents. Such replacement collateral shall become Collateral subject to Loan Documents and the
security interest granted to Holder hereunder, and Holder sh