Common Contracts
2 similar Third Term Note contracts by Cti Industries Corp
Third Term Note Page TwoThird Term Note • February 16th, 1999 • Cti Industries Corp • Miscellaneous manufacturing industries
FOR VALUE RECEIVED, the undersigned, CTI Industries Corporation, a Delaware corporation (the "Borrower"), hereby promises to pay to the order of First American Bank, an Illinois banking corporation (the "Bank"), the principal sum of Two Million Two Hundred Fifty Eight Thousand and No/100 Dollars ($2,258,000.00) on August 1, 2003 (or earlier as hereinafter provided), or so much thereof as may be advanced by the Bank and evidenced by this Note under the Amended and Restated Loan and Security Agreement dated May 1, 1998 between the Borrower and the Bank (the "Loan Agreement"), together with interest to maturity (whether by lapse of time, acceleration, or otherwise) on the balance of principal remaining from time to time outstanding at a fixed rate per annum equal to eight and one-quarter percent (8.25%) per annum. Interest shall be calculated on the basis of a 360-day year and actual days.
Third Term Note Page TwoThird Term Note • July 24th, 1997 • Cti Industries Corp
FOR VALUE RECEIVED, the undersigned, CTI Industries Corporation, a Delaware corporation (the "Borrower"), hereby promises to pay to the order of First American Bank, an Illinois banking corporation (the "Bank"), the principal sum of Two Hundred Seventy Five Thousand and No/100 Dollars ($275,000.00) on October 1, 2000 (or earlier as hereinafter provided), or so much thereof as may be advanced by the Bank and evidenced by this Note under the Loan and Security Agreement dated August 19, 1996, as it has been amended from time to time, between the Borrower and the Bank (the "Loan Agreement"), together with interest to maturity (whether by lapse of time, acceleration, or otherwise) on the balance of principal remaining from time to time out standing at a fluctuating rate per annum equal to one percent (1%) per annum over the Prime Rate announced from time to time by the Bank (which may not be the Bank's lowest rate of interest) which shall be adjusted daily when and as the Bank's Prime Rate
