Ladd Furniture Inc – ‘10-K’ for 1/1/94 – EX-10

As of:  Thursday, 3/31/94   ·   For:  1/1/94   ·   Accession #:  950168-94-101   ·   File #:  0-11577

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Ladd Furniture 10-K 3/31/94 #89209.1                  27±   108K 
 2: EX-10       Exhibit 10.1                                           7±    26K 
 3: EX-10       Exhibit 10.2                                           7±    26K 
 4: EX-10       Exhibit 10.3                                           7±    26K 
 5: EX-10       Exhibit 10.4                                           7±    26K 
 6: EX-10       Exhibit 10.5                                           8±    29K 
 7: EX-10       Exhibit 10.6                                           1      8K 
 8: EX-10       Exhibit 10.7                                           6±    23K 
 9: EX-10       Exhibit 10.8                                           2±     9K 
10: EX-13       Exhibit 13.1                                          34    172K 
11: EX-24       Exhibit 24.1                                           2±    10K 

EX-10   —   Exhibit 10.6

                                  Exhibit 10.6

LINE OF CREDIT NOTE                   

     $15,000,000                              Pittsburgh, Pennsylvania
                             February 28, 1994

     This  Line of  Credit Note  is executed  and delivered  under and
     pursuant to the terms  of that certain Letter Agreement  dated as
     of February  28, 1994 (the  Letter Agreement and  all extensions,
     renewals,  amendments, substitutions or  replacements referred to
     herein  as  the  "Letter Agreement")  by  and  between PNC  BANK,
     NATIONAL ASSOCIATION  (the "Bank") and LADD  FURNITURE, INC. (the
"Borrower").                                                

     FOR VALUE  RECEIVED the Borrower promises to  pay to the order of
     the  Bank at  the office  of the  Bank at  Fifth Avenue  and Wood
     Street,  Pittsburgh,  Pennsylvania   15265  on   or  before   the
     Termination  Date the  lesser  of the  principal  sum of  FIFTEEN
     MILLION AND NO/100 DOLLARS  ($15,000,000) or the aggregate unpaid
     principal  amount of all outstanding advances made by the Bank to
     the Borrower  pursuant to the  Letter Agreement and  reflected on
     the  loan account maintained by the Bank pursuant to Paragraph 12
of the Letter Agreement.                                    

     Interest  on the unpaid principal balance hereof shall be due and
     payable  at  the rates  and  the times  set  forth in  the Letter
Agreement.                                                  

     This  Line of Credit Note is the  Line of Credit Note referred to
     in  the  Letter  Agreement.   Reference  is  made  to the  Letter
     Agreement  for provisions for  the prepayment hereof  and for the
     acceleration of the maturity hereof.  All of the terms, including
     defined   terms,   conditions,  covenants,   representations  and
     warranties, in  the Letter  Agreement are incorporated  herein by
reference as if same were fully set forth herein.           

     Demand, presentation,  protest, notice of dishonor  and notice of
default are hereby waived.                                  

     WITNESS  the due execution hereof  with the intent  to be legally
bound hereby.                                               

     ATTEST:                            LADD FURNITURE, INC.    (SEAL)

     By_____________________            By____________________________
     Title__________________            Title_________________________

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing		Date		Other Filings
Filed on:		3/31/94
		2/28/94
For Period End:		1/1/94		10-K/A
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