REVOLVING CREDIT AND TERM LOAN AGREEMENT
This Revolving Credit and Term Loan Agreement is dated as of October 1, 2003, between XETA TECHNOLOGIES, INC. , an
Oklahoma corporation (“Borrower”), and BANK OF OKLAHOMA, N.A. (“Bank”).
A. Subject to the terms and conditions set forth below, Bank has agreed to make the following loans to Borrower: (i) a three
million three hundred seventy-four thousand seven hundred thirty-four and 33/100 dollar term loan ($3,374,734.33) (“Term
Loan”), (ii) a two million two hundred thirty-eight thousand three hundred thirty-three and 48/100 dollar term loan
($2,238,333.48) (“Real Estate Loan”), and (iii) a seven million five hundred thousand and no/100 dollar revolving line of credit
($7,500,000) (“Revolving Line”).
For valuable consideration received, it is agreed as follows:
1. DEFINED TERMS. As used in this Agreement, the following terms have the following meanings (terms defined in the
singular to have the same meaning when used in the plural and vice versa).
1.1. Accounting Terms. All accounting terms not specifically defined herein shall be construed in accordance with GAAP
consistent with those applied in the preparation of the financial statements referred to in Section 6.8. All financial data
submitted pursuant to Section 6.8 shall be prepared in accordance with such principles. From time-to-time or as requested
by the Bank, the Borrower may provide the Bank with financial or operating information about the Borrower which has been
prepared primarily for the Borrower’s internal use or in direct response to a request from the Bank. Borrower will use its best
efforts to ensure that such information is prepared consistently with previous versions of such information and is not
misleading, but does not represent that such information will be consistent with GAAP.
1.2. “Acquisition Term Deduction” means the amount to be deducted from Borrower’s availability under the Borrowing