For value received, the borrower(s) named above, whether one or more (the “Borrower”), jointly and
severally promise to pay to the order of SunTrust Bank, a Georgia banking corporation
(“SunTrust”), at any of its offices, or at such place as SunTrust may in writing designate, without
offset in U.S. Dollars in immediately available funds, the Loan Amount shown above, or the total of
all amounts advanced under this commercial note and any modifications, renewals, extensions or
replacements thereof (this “Note”) if less than the full Loan Amount is advanced, plus interest and
any other amounts due, upon the terms specified below.
Borrower: The Advisory Board Company
Date: November 7, 2006
Loan Amount: Twenty Million and no/100
Dollars ($20,000,000.00 )
Officer: Steven Haas
This obligation is payable on demand . SunTrust shall have the right to demand
payment at any time in its sole and absolute discretion. Principal is payable on
demand; accrued interest will be payable on the ___ day of each
beginning on , ___, and on demand.
o One payment of all principal, interest and any other amounts owed will be due
and payable on ___, .
o Accrued interest will be payable on the ___day of each beginning
on , ___. Principal plus any accrued and unpaid interest and any other
amounts owed will be due and payable on , .
Fixed payment schedule consisting of ___consecutive ___installments of principal
and interest of $ each, payable on the ___day of each ___,