Exhibit 10.5
REVOLVING NOTE
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$5,000,000 June 30, 1999
FOR VALUE RECEIVED, MATRIX BANCORP, INC., a Colorado corporation formerly
named Matrix Capital Corporation ("Borrower"), promises to pay to the order of
U.S. BANK NATIONAL ASSOCIATION ("Lender") that portion of the principal amount
of $5,000,000 that may from time to time be disbursed and outstanding under this
note together with interest.
This note is a "Revolving Note" under the Credit Agreement (as renewed,
extended, amended, or restated, the "Credit Agreement") dated as of March 12,
1997, between Borrower, Lender, certain other Lenders, and U.S. Bank National
Association, as Agent for Lenders. All of the defined terms in the Credit
Agreement have the same meanings when used, unless otherwise defined, in this
note.
This note incorporates by reference the principal and interest payment
terms in the Credit Agreement for this note, including, without limitation, the
final maturity, which is the Maturity Date. Principal and interest are payable
to the holder of this note through Agent at either (a) its offices at ▇▇▇ ▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, or (b) at any other address so designated by
Agent in written notice to Borrower.
This note incorporates by reference all other provisions in the Credit
Agreement applicable to this note, such as provisions for disbursements of
principal, applicable-interest rates before and after Default, voluntary and
mandatory prepayments, acceleration of maturity, exercise of Rights, payment of
attorneys' fees, court costs, and other costs of collection, certain waivers by
▇▇▇▇▇▇▇▇ and other obligors, assurances and security, choice of Texas and United
States federal Law, usury savings, and other matters applicable to Loan
Documents under the Credit Agreement.
This note is a renewal, extension, increase of, and substitution for (but
not novation of), the existing Revolving Note dated as of June 29, 1998,
executed by ▇▇▇▇▇▇▇▇, payable to Payee, and in the stated principal amount of
$5,750,000.
MATRIX BANCORP, INC., as Borrower
By /s/ ▇▇▇ ▇. ▇▇▇▇▇▇
________________________________________________
▇▇▇ ▇. ▇▇▇▇▇▇, Chief Executive Officer and
President
