EXHIBIT 4.107
REVOLVING NOTE
$50,000,000 Albany, New York
March 29, 2000
FOR VALUE RECEIVED, the undersigned MECHANICAL TECHNOLOGY INCORPORATED, a New
York corporation (herein, together with its successors and assigns, the
("Borrower"), hereby promises to pay to the order of KEYBANK NATIONAL
ASSOCIATION (the "Lender"), in lawful money of the United States of America and
in immediately available funds, at the Payment Office of the Lender, FIFTY
MILLION DOLLARS ($50,000,000.00) or, if less, the aggregate unpaid principal
amount of all Revolving Loans made by the Lender to the Borrower pursuant to
section 2.1 of the Credit Agreement referred to below, on the Revolving
Termination Date. Certain capitalized terms used herein without definition
shall have the respective meanings ascribed thereto in the Credit Agreement
referred to below.
The Borrower promises also to pay interest in like currency and funds on the
unpaid principal amount hereof to the Lender, at said office, from the date
hereof until paid at the rates and at the times provided in section 2.7 of the
Credit Agreement.
This Note is the Revolving Note referred to in the Amended and Restated Credit
Agreement, dated as of March 29, 2000, between the Borrower and the Lender (as
from time to time in effect, the "Credit Agreement"), and is entitled to the
benefits thereof and of the other Credit Documents. As provided in the Credit
Agreement, this Note is subject to mandatory prepayment prior to the Revolving
Termination Date, in whole or in part.
In case an Event of Default shall occur and be continuing, the principal of and
accrued interest on this Note may be declared to be due and payable in the
manner and with the effect provided in the Credit Agreement.
The Borrower hereby waives presentment, demand, protest or notice of any kind
in connection with this Note. No failure to exercise, or delay in exercising,
any rights hereunder on the part of the holder hereof shall operate as a waiver
of any such rights.
THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF
THE STATE OF NEW YORK.
MECHANICAL TECHNOLOGY
INCORPORATED
By:____________________________________
Title:
REVOLVING LOANS AND PAYMENTS OF PRINCIPAL
Amount of
Principal Unpaid
Date of Amount Type Interest Paid or Principal
Notation of Loan of Loan Period Prepaid Balance Made By
NY: 0000000x0 [Word]
NY: 0000000x0 [Word]
