Restated Guaranty AgreementGuaranty Agreement • August 3rd, 2007 • Environmental Tectonics Corp • Miscellaneous electrical machinery, equipment & supplies
THIS RESTATED GUARANTY AGREEMENT (this “Guaranty”) is made and entered into as of this 31st day of July, 2007, by H.F. LENFEST, an individual (the “Guarantor”), with an address at 300 Barr Harbor Drive, Suite 460, West Conshohocken, PA 19428, in consideration of the extension of credit by PNC BANK, NATIONAL ASSOCIATION (the “Bank”), with an address at 1000 Westlakes Drive, Suite 200, Berwyn, PA 19312, to ENVIRONMENTAL TECTONICS CORPORATION (the “Borrower”), and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged. This Guaranty restates and replaces (but does not constitute a novation of) the existing Restated Limited Guaranty Agreement from the Guarantor to the Bank dated as of November 16, 2006.
AMENDED AND RESTATED SUBORDINATION AND INTERCREDITOR AGREEMENTSubordination and Intercreditor Agreement • August 3rd, 2007 • Environmental Tectonics Corp • Miscellaneous electrical machinery, equipment & supplies • Pennsylvania
This Amended and Restated Subordination and Intercreditor Agreement (this “Agreement”) is dated as of July 31, 2007 among PNC BANK, NATIONAL ASSOCIATION (the “Bank”), SUBORDINATED LENDER (as defined below), and ENVIRONMENTAL TECTONICS CORPORATION, a Pennsylvania corporation (“Company”).
Amended and Restated Reimbursement Agreement for Letters of CreditReimbursement Agreement • August 3rd, 2007 • Environmental Tectonics Corp • Miscellaneous electrical machinery, equipment & supplies • Pennsylvania
THIS AMENDED AND RESTATED REIMBURSEMENT AGREEMENT FOR LETTERS OF CREDIT (this “Agreement”) is made as of this 31st day of July, 2007, by ENVIRONMENTAL TECTONICS CORPORATION (the “Obligor”), with an address at 125 James Way, Southampton, PA 18966 in favor of PNC BANK, NATIONAL ASSOCIATION (the “Bank”), with an address at 500 First Avenue, Third Floor, Pittsburgh, PA 15219. This Agreement amends and restates that certain Reimbursement Agreement for Letters of Credit between the Obligor and the Bank dated as of November 16, 2006 (as heretofore amended, the “Existing Reimbursement Agreement”). From time to time by submitting an application in a form approved by the Bank (an “Application”), the Obligor or any of its subsidiaries or affiliates has requested or may hereafter request the Bank to issue one or more letters of credit (each, a “Credit”) (including the Credits listed on Schedule I hereto (the “Existing Credits”) heretofore issued under the Existing Reimbursement Agreement. The Bank
July 31, 2007 Environmental Tectonics Corporation 125 James Way Southampton, PA 18966 Attention: Duane Deaner Re: $15,000,000 Committed Line of Credit Dear Duane:Letter Agreement • August 3rd, 2007 • Environmental Tectonics Corp • Miscellaneous electrical machinery, equipment & supplies
We are pleased to inform you that PNC Bank, National Association (the “Bank”), has approved your request for a committed line of credit to Environmental Tectonics Corporation (the “Borrower”). This letter agreement amends, restates and replaces (but does not constitute a novation of) the existing Letter Agreement dated November 16, 2006 between the Bank and the Borrower (as heretofore amended, the “Existing Loan Agreement”).
