ELEVENTH AMENDMENT TO Loan AND SECURITY AGREEMENT, WAIVER AND JOINDERLoan and Security Agreement • March 13th, 2018 • Intricon Corp • Electronic components & accessories • Minnesota
THIS ELEVENTH AMENDMENT TO Loan AND SECURITY AGREEMENT, WAIVER AND JOINDER (this “Amendment”) is made and entered into as of December 15, 2017, by and among INTRICON CORPORATION, a Pennsylvania corporation (“IntriCon”), INTRICON, INC., a Minnesota corporation (“Inc.”, and, together with IntriCon, the “Existing Borrowers”, and each, an “Existing Borrower”), I-MANAGEMENT, LLC, a Minnesota limited liability company (“I-Management”), HEARING HELP EXPRESS, INC., an Illinois corporation (“HHE”, and, together with I-Management, the “New Borrowers”, and, each, a “New Borrower”, and, together with the Existing Borrowers, are herein collectively referred to as the “Borrowers”, and, each, individually, a “Borrower”), and CIBC BANK USA (formerly known as The PrivateBank and Trust Company), an Illinois banking corporation (the “Bank”).
AMENDED AND RESTATED TERM NOTEIntricon Corp • March 13th, 2018 • Electronic components & accessories
FOR VALUE RECEIVED, the undersigned, INTRICON CORPORATION, a Pennsylvania corporation, INTRICON, INC., a Minnesota corporation, I-MANAGEMENT, LLC, a Minnesota limited liability company, and HEARING HELP EXPRESS, INC., an Illinois corporation (each, a “Borrower”; collectively, the “Borrowers”), hereby JOINTLY AND SEVERALLY promise to pay to the order of CIBC BANK USA (formerly known as The PrivateBank and Trust Company), the principal sum of SIX MILLION FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($6,500,000), payable in periodic installments on the dates and in the amounts set forth in the Loan Agreement (as hereinafter defined), with one final balloon payment on the Term Loan Maturity Date. The actual amount due and owing from time to time hereunder shall be evidenced by Bank’s records of receipts and disbursements with respect to the Term Loan, which shall, absent manifest error, be conclusive evidence of such amount.
CAPEX NOTECapex Note • March 13th, 2018 • Intricon Corp • Electronic components & accessories
FOR VALUE RECEIVED, the undersigned, INTRICON CORPORATION, a Pennsylvania corporation, INTRICON, INC., a Minnesota corporation, I-MANAGEMENT, LLC, a Minnesota limited liability company, and HEARING HELP EXPRESS, INC., an Illinois corporation (each, a “Borrower”; collectively, the “Borrowers”), hereby JOINTLY AND SEVERALLY promise to pay to the order of CIBC BANK USA (formerly known as The PrivateBank and Trust Company), the principal sum of TWO MILLION FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($2,500,000), or if less, the then aggregate unpaid principal amount of the CapEx Loan as may be borrowed by the Borrowers (or any of them) under the Loan Agreement (as hereinafter defined). The actual amount due and owing from time to time hereunder shall be evidenced by Bank’s records of receipts and disbursements with respect to the CapEx Loan, which shall, absent manifest error, be conclusive evidence of such amount.
