Common use of Apollo Clause in Contracts

Apollo. Type of Interests Number of Interests Contribution Value of Contribution ----------------- ------------------- ------------ --------------------- Class A 5 Cash $20,000 Interests New Valley: ----------- Type of Interests Number of Interests Contribution Value of Contribution ----------------- ------------------- ------------ --------------------- Class B 5 Expenditures $ 5,000 Interests Total Interests Issued: 10 $25,000 At the Initial Closing, Apollo made a loan of $11,000,000 to the Company (the "Apollo Loan") which was represented by a promissory note in favor of Apollo dated February 27, 1998 (the "Promissory Note") which Promissory Note was secured by the pledge of 99.1% of the outstanding shares of the capital stock of BrookeMil under a pledge agreement between Apollo and New Valley dated as of February 27, 1998 (the "Pledge Agreement"). The entire amount of the Apollo Loan was disbursed to the order of the Company by wire transfer in immediately available funds to the account specified in such wire instructions on the Initial Closing Date.