EXHIBIT 5.5
REVOLVING CREDIT NOTE
$U.S. 30,000,000 December 10, 2004
FOR VALUE RECEIVED, the undersigned, EMS Technologies Canada, Ltd., a
corporation incorporated under the laws of Canada (the "Borrower"), hereby
unconditionally promises to pay to the order of Bank of America, National
Association (the "Lender") or its registered assigns, at the office of Bank of
America, National Association (Canada branch), Canadian Administrative Agent and
Funding Agent for the Lenders (the "Administrative Agent) at 200 Front Street
West, Suite 2700, Toronto, Ontario M5V 3L2, on the Commitment Termination Date
(as defined in the Canadian Revolving Credit Agreement dated as of December 10,
2004 between the Borrower, EMS Technologies Inc., the lenders from time to time
party thereto (the "Lenders") and the Administrative Agent, as the same may be
amended, supplemented or otherwise modified from time to time, the "Credit
Agreement") the principal amount of U.S.$30,000,000, or if the outstanding
principal amount of all Revolving Loans is less than U.S. $30,000,000, the
aggregate unpaid principal amount of all Revolving Loans made by the Lender to
the Borrower pursuant to the Credit Agreement, in Canadian Dollars in
immediately available funds, and to pay interest from the date hereof on the
principal amount thereof from time to time outstanding, in like funds, at said
office, at the rate or rates per annum and payable on such dates as provided in
the Credit Agreement. In addition, should legal action or legal counsel be
utilized to collect any amount due hereunder, the Borrower further
unconditionally promises to pay all costs of collection, including reasonable
legal fees. Capitalized terms used herein and not otherwise defined herein shall
have the meanings ascribed to such terms in the Credit Agreement.
The Borrower unconditionally promises to pay interest, on demand, on any
overdue principal and, to the extent permitted by law, overdue interest from
their due dates at a rate or rates provided in the Credit Agreement.
All borrowings evidenced by this Revolving Credit Note and all payments
and prepayments of the principal hereof and the date thereof shall be endorsed
by the holder hereof on the schedule attached hereto and made a part hereof or
on a continuation thereof which shall be attached hereto and made a part hereof,
or otherwise recorded by such holder in its internal records; provided, that the
failure of the holder hereof to make such a notation or any error in such
notation shall not affect the obligations of the Borrower to make the payments
of principal and interest in accordance with the terms of this Revolving Credit
Note and the Credit Agreement.
This Revolving Credit Note is issued in connection with, and is entitled
to the benefits of, the Credit Agreement which, among other things, contains
provisions for the acceleration of the maturity hereof upon the happening of
certain events, for prepayment of the principal hereof prior to the maturity
hereof and for the amendment or waiver of certain provisions of the Credit
Agreement, all upon the terms and conditions therein specified. This Revolving
Credit Note
shall be construed in accordance with and governed by the laws of the Province
of Ontario and the laws of Canada applicable therein.
EMS TECHNOLOGIES CANADA, LTD.
By: _________________________
Name:
Title:
LOANS AND PAYMENTS
Unpaid Principal Name of Person
Date Amount and Type of Loan Payments of Principal Balance of Note Making Notation
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