SECURITY AGREEMENTSecurity Agreement • December 19th, 2007 • MTS Medication Technologies, Inc /De/ • General industrial machinery & equipment
For value received and to secure payment and performance of the Promissory Note executed by Debtor (also referred to herein as “Borrower”) dated December 19, 2007, in the original principal amount of $14,000,000.00, payable to Bank, and any extensions, renewals, modifications or novations thereof (the “Note”), t his Security Agreement, the Loan Agreement dated as of the date hereof between Borrower and Bank (the “Loan Agreement”), the other Loan Documents, swap agreements (as defined in 11 U.S.C. § 101, as in effect from time to time) executed in connection with or related to the Loan Documents, future advances, and all costs and expenses incurred by Bank to obtain, preserve, perfect and enforce the security interest granted herein and to maintain, preserve and collect the property subject to the security interest (collectively, “Secured Obligations”), Debtor hereby grants to Bank a continuing security interest in and lien upon the following described property, whether now owned or her
LOAN AGREEMENTLoan Agreement • December 19th, 2007 • MTS Medication Technologies, Inc /De/ • General industrial machinery & equipment • Florida
This Loan Agreement (“Agreement”) is made and entered into as of December 19, 2007, by and between WACHOVIA BANK, NATIONAL ASSOCIATION (“Bank”) and MTS MEDICATION TECHNOLOGIES, INC., a Delaware corporation (“Borrower”).
