Exhibit 10(i) Line of Credit Note dated March 27, 1998 by and between J.
Alexander's Corporation, J. Alexander's Restaurants, Inc. and NationsBank of Tennessee, N.A.
LINE OF CREDIT NOTE
$20,000,000.00 Nashville, Tennessee March 27, 1998
FOR VALUE RECEIVED, J. ALEXANDER'S CORPORATION (f/k/a VOLUNTEER CAPITAL
CORPORATION) and J. ALEXANDER'S RESTAURANTS, INC. (f/k/a TOTAL QUALITY
MANAGEMENT, INC.), Tennessee corporations (the "Maker"), jointly and severally promise to pay to the
order of NATIONSBANK OF TENNESSEE, N.A. ("Payee" or "NationsBank"), the sum of Twenty Million
and No/100 Dollars ($20,000,000.00), or as much thereof as may be outstanding from time to time, together
with interest thereon as set forth below.
Advances under this Note shall be governed by that certain Loan Agreement dated August 29, 1995, as
amended by that Amendment to Loan Agreement of even date herewith ("Loan Agreement"). Subject to the
provisions of the Loan Agreement, Maker may borrow, repay and reborrow and there is no limit on the number
of advances against this Note as long as the total unpaid principal balance at any time outstanding does not
exceed Twenty Million and No/100 Dollars ($20,000,000.00).
From the date hereof until December 31, 1998, interest shall accrue at the LIBOR Rate plus a spread of 3.0%.
Beginning on January 1, 1999 until the stated maturity of this Note, interest shall accrue at, for any given period of
30 days (a "LIBOR Period") the LIBOR Rate plus a spread of 2.0%, 2.25%, 2.5% or 3.0% depending on the
Senior Debt Coverage Ratio ("SDCR") as further provided in the Loan Agreement.
From the date hereof until December 31, 1998, a non-usage fee of .50% will be paid quarterly in arrears.
Beginning on January 1, 1999 until the stated maturity of this Note, a non-usage fee of either .25%, .35%
or .50% based upon the daily average unused amount and based on the SDCR will be paid quarterly in arrears.
If the SDCR is less than or equal to 2.75 but greater than 2.5, the fee will