Exhibit 10h
GRID NOTE AND SECURITY AGREEMENT
$500,000. February 17,1998
CLEAN DIESEL TECHNOLOGIES, INC. ("Borrower") promises to pay
PLATINUM PLUS, INC. ("Lender") or order, the principal amount
of Five Hundred Thousand Dollars ($500,000), or such lesser
amount as is indicated on the reverse hereof as the then
unpaid principal balance, one hundred twenty (120) days from
the date hereof with interest at the rate of ten percent
(10%) per year on such principal balance calculated on the
basis of a year of 360 days and 30 day months. This note may
be prepaid at any time in whole or in part without penalty or
premium. Lender agrees to lend up to Five Hundred Thousand
Dollars to Borrower under this Note for Borrower's working
capital purposes. All repayments shall be to the account of
Lender at its home office, 000 Xxxxxxxx Xxxxxx, Xxxxxxxx
Xxxxxxxxxxx 00000.
Borrower irrevocably authorizes Lender to endorse on the
reverse side hereof the date and principal amount of any
borrowing or repayment made after the date hereof from or to
Lender.
To secure the obligation of this Note Borrower hereby grants
to Lender a security interest in and to all of Borrower's
Intellectual Property whatsoever, including patents,
trademarks and copyrights, applications therefor, and trade
secrets, technology, information and data, including the
Intellectual Property more particularly listed on Schedule A
hereto and proceeds of all such collateral.
If the principal hereof in not paid when due, Borrower aqrees
to pay all costs of collection thereof and all costs of
foreclosure of the security interest granted herein,
including reasonable attorneys fees, and for such purpose
herby submits to the jurisdiction of the Superior Court of
Stamford of the State of Connecticut. In foreclosure of the
security interest granted herein, Borrower waives trial by
jury and any requirement of notice or of posting a bond.
CLEAN DIESEL TECHNOLOGIES, INC.
By: /s/ X. X. Xxxxx-Xxxxxx
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Xxxxxx X. Xxxxx-Xxxxxx
President
