BUSINESS LOAN AGREEMENT (ASSET BASED)Business Loan Agreement • September 8th, 2009 • Elecsys Corp • Electronic components, nec • Missouri
THIS BUSINESS LOAN AGREEMENT (ASSET BASED) dated August 13, 2009, is made and executed between ELECSYS CORPORATION and ELECSYS INTERNATIONAL CORPORATION (“Borrower”) and Bank Midwest N.A. (“Lender”) on the following terms and conditions. Borrower has received prior commercial loans from Lender or has applied to Lender for a commercial loan or loans or other financial accommodations, including those which may be described on any exhibit or schedule attached to this Agreement. Borrower understands and agrees that: (A) in granting, renewing, or extending any Loan, Lender is relying upon Borrower’s representations, warranties, and agreements as set forth in this Agreement; (B) the granting, renewing, or extending of any loan by Lender at all times shall be subject to Lender’s sole judgment and discretion; and (C) all such loans shall be and remain subject to the terms and conditions of this Agreement.
