Borrower: Name: Tel-instrument Lender: [X] SUMMIT BANK [ ] SUMMIT BANK Electronics Corp. ("Lender") ("Lender") 210 MAIN STREET ONE BETHLEHEM PLAZA HACKENSACK, NJ BETHLEHEM, PA 18018 07602 (individually and collectively, jointly and severally, the...Tel Instrument Electronics Corp • November 12th, 1998 • Electronic components & accessories
FOR VALUE RECEIVED, Borrower unconditionally promises to pay to the order of Lender the above principal amount in U.S. Dollars or, if a line of credit, such lesser amount of advances made but not repaid (including the face amount of any letter of credit issued and such other financial accommodations as may have been made), together with interest at the rate and on the terms provided in this Business Promissory/Credit Note (including all renewals, extensions and/or modifications, this "Note"). Any advance(s) shall be conclusively presumed to have been made at the request of Borrower when (1) deposited or credited to an account of Borrower with Lender, or (2) made in accordance with the oral or written instructions of Borrower, or of anyone on behalf of Borrower. Any such sums borrowed or reborrowed must be in multiples of 5% of the Principal Amount. This Note and all documents executed in connection with this Note are referred to herein as the "Loan Documents."
