CREDIT AGREEMENT - LINE OF CREDIT
This AGREEMENT made and entered into as of this 1st day of May 1996, by and between ULTRADATA
SYSTEMS, INC. a Missouri corporation (hereinafter called "Borrower"), and THE BOATMEN'S
NATIONAL BANK OF ST. LOUIS (hereinafter called "Bank").
Whereas, Borrower desires to borrow from Bank, in one or more advances, an aggregate sum not to exceed
$2,500,000.00 (hereinafter called the "Credit"); and
Whereas, Bank is willing to lend said sum, or such lesser amount as may be desired by Borrower, to Borrower,
subject to the terms and conditions hereinafter set forth;
Now, therefore, in consideration of the premises and the mutual agreements herein set forth, the parties hereto
agree as follows:
TERMS OF CREDIT
.1 The proceeds of the Credit shall be available to Borrower at such times as Borrower may request, so long as
no Event of Default as herein defined shall have occurred. Any unused portion of the Credit shall remain subject
to withdrawal until May 1, 1997.
.2 The Credit shall be evidenced by a note in substantially the form attached hereto and marked Exhibit
"B" (hereinafter called the "Note"). The Note shall be payable on May 1, 1997 and shall be on the terms and
conditions set forth therein.
.3 Borrower has the right at any time to prepay the outstanding principal balance of the Note. Any such
prepayment shall increase the unused portion of the Credit available for borrowing until maturity of the Note,
whether by acceleration or otherwise.
.4 The credit facility will be used to support outstanding letters of credit and all advances on the line of credit will
be available after the outstanding letters of credit have been subtracted from the $2,500,000.00.
REPRESENTATIONS AND WARRANTIES
Borrower expressly represents and warrants that:
.1 It is a corporation duly organized and validly existing and in good standing under the laws of the State of
.2 It has corporate power and authority to own its p