LOAN AND SECURITY AGREEMENT This is a Loan and Security Agreement made this 6th day of February, 1997, between SUMMIT BANK ("Lender"), a banking corporation of the State of New Jersey, having an address at 750 Walnut Street, Cranford, New Jersey...Loan and Security Agreement • April 1st, 1997 • Bogen Communications International Inc • Telephone & telegraph apparatus • New Jersey
CONTINUING UNLIMITED CORPORATE GUARANTY Date: February 6th, 1997 To: SUMMIT BANK (the "Lender") For Valuable Consideration, and to induce Lender to loan money and/or extend credit in reliance hereon, the undersigned, hereby guarantees,...Continuing Unlimited Corporate • April 1st, 1997 • Bogen Communications International Inc • Telephone & telegraph apparatus
This Guaranty shall be primary, absolute and unconditional and extend to and cover every extension or renewal of, and every obligation accepted in substitution for any obligation guaranteed hereby, and the undersigned shall be bound hereby irrespective of (i) the existence, value or condition of any collateral security Lender may at any time hold; (ii) the invalidity, irregularity or enforceability of any instrument, writing or arrangement relating to any such credit, loan of money or financial accommodation or of the obligations thereunder; (iii) the inability or failure of Lender to fully establish or perfect its lien or security interest in any collateral pledged to it; (iv) any other circumstance that might constitute a defense to, or discharge of, the Borrower with respect to any of the obligations hereby guarantied, or the undersigned in regard to this Guaranty other than payment in full of the obligations guaranteed hereby; or (v) any present or future law or order of any govern
Summary of Credit Agreement between Speech Design GmbH and Stadtsparkasse Munchen Pursuant to the terms of the Credit Agreement, dated December 11, 1995 (the "Credit Agreement"), between Speech Design GmbH ("Speech Design") and Stadtsparkasse Munchen...Bogen Communications International Inc • April 1st, 1997 • Telephone & telegraph apparatus
Pursuant to the terms of the Credit Agreement, dated December 11, 1995 (the "Credit Agreement"), between Speech Design GmbH ("Speech Design") and Stadtsparkasse Munchen (the "Lender"), Lender agrees to extend to Speech Design a credit line in the aggregate amount of DM 4,000,000. Interest on any borrowing under the credit line is payable at 8.25% per annum. The term of this agreement is December 31, 1999, subject to earlier termination. As security for any extension of credit pursuant to the Credit Agreement, Speech Design made a general assignment of claims, receivables and inventory in favor of the Lender. The Credit Agreement also contains customary provisions regarding Speech Design's duty to disclose information to the Lender, choice of forum and the validity of the agreement.
