SECURED REVOLVING LOAN NOTESecured Revolving Loan Note • July 12th, 2010 • Spar Group Inc • Services-business services, nec
This Note bears interest during each calendar month from the date hereof until paid as set forth in the Loan Agreement. Interest is to be paid at time intervals as set forth in the Loan Agreement. In no event is the interest rate to be higher than the maximum lawful rate. Interest is calculated on a daily basis upon the unpaid balance with each day representing 1/360th of a year.
SECURED REVOLVING LOAN NOTESecured Revolving Loan Note • July 12th, 2010 • Spar Group Inc • Services-business services, nec
This Note bears interest during each calendar month from the date hereof until paid as set forth in the Loan Agreement. Interest is to be paid at time intervals as set forth in the Loan Agreement. In no event is the interest rate to be higher than the maximum lawful rate. Interest is calculated on a daily basis upon the unpaid balance with each day representing 1/360th of a year.
REVOLVING LOAN AND SECURITY AGREEMENTRevolving Loan and Security Agreement • July 12th, 2010 • Spar Group Inc • Services-business services, nec • New York
This REVOLVING LOAN AND SECURITY AGREEMENT (“Agreement”) among STERLING NATIONAL BANK, having offices at 500 Seventh Avenue, New York NY 10018-4502 (“Sterling”), CORNERSTONE BANK, having offices at 6000 Midlantic Drive, Suite 1205, Mt. Laurel, NJ 08054 (“Cornerstone”), and any other entity becoming a Lender pursuant to this Agreement are collectively referred to as the “Lenders” and individually as a “Lender;” and Sterling as the Agent for the Lenders as well as acting for the benefit of Lenders (“Agent”); SPAR Group, Inc., a Delaware corporation (“SGRP”), SPAR Incentive Marketing, Inc., a Delaware corporation, PIA Merchandising Co., Inc., a California corporation, Pivotal Sales Company, a California corporation, National Assembly Services, Inc., a New Jersey corporation, SPAR/Burgoyne Retail Services, Inc. (f/k/a Retail Information, Inc.), an Ohio corporation, SPAR Group International, Inc., SPAR Acquisition, Inc., SPAR Trademarks, Inc., SPAR Marketing Force, Inc. and SPAR, Inc., each
