EXHIBIT 4.3
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TERM NOTE
$150,000 Dallas, Texas
November 22, 1999
For value received, the undersigned, The Leather Factory, Inc., a Delaware
corporation, The Leather Factory, Inc., a Texas corporation, The Leather
Factory, Inc., an Arizona corporation, Xxxxxxx, Xxxxxxx & Company, Inc., a New
York corporation, and Hi-Line Leather & Manufacturing Company, a California
corporation (collectively, the "Borrowers" and each "Borrower"), hereby promise
to pay on the Termination Date under the Credit Agreement (defined below), to
the order of Xxxxx Fargo Business Credit, Inc., a Minnesota corporation (the
"Lender"), at its main office in Minneapolis, Minnesota, or at any other place
designated at any time by the holder hereof, in lawful money of the United
States of America and in immediately available funds, the principal sum of One
Hundred Fifty Thousand Dollars and No Cents ($150,000) or, if less, the
aggregate unpaid principal amount of all Term Advances made by the Lender to the
Borrowers under the Credit Agreement (defined below) together with interest on
the principal amount hereunder remaining unpaid from time to time, computed on
the basis of the actual number of days elapsed and a 360-day year, from the date
hereof until this Note is fully paid at the rate from time to time in effect
under the Credit and Security Agreement of even date herewith (as the same may
hereafter be amended, supplemented or restated from time to time, the "Credit
Agreement") by and between the Lender and the Borrowers. The principal hereof
and interest accruing thereon shall be due and payable as provided in the Credit
Agreement. This Note may be prepaid only in accordance with the Credit
Agreement.
This Note is issued pursuant, and is subject, to the Credit Agreement,
which provides, among other things, for acceleration hereof. This Note is the
Term Note referred to in the Credit Agreement. This Note is secured, among other
things, pursuant to the Credit Agreement and the Security Documents as therein
defined, and may now or hereafter be secured by one or more other security
agreements, mortgages, deeds of trust, assignments or other instruments or
agreements.
The Borrowers hereby agrees to pay all costs of collection, including
attorneys' fees and legal expenses in the event this Note is not paid when due,
whether or not legal proceedings are commenced.
Presentment or other demand for payment, notice of dishonor and protest are
expressly waived.
THE LEATHER FACTORY, INC., a
Delaware corporation, THE LEATHER
FACTORY, INC., a Texas corporation, THE
LEATHER FACTORY, INC., an Arizona
corporation, XXXXXXX, XXXXXXX &
COMPANY, INC., and HI-LINE LEATHER
& MANUFACTURING COMPANY
By /s/ Xxxx Xxxxxxxx
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Xxxx Xxxxxxxx
Its President
