TERM PROMISSORY NOTETerm Promissory Note • April 30th, 2003 • Act Teleconferencing Inc • Communications services, nec • Colorado
FOR VALUE RECEIVED, the undersigned, ACT TELECONFERENCING, INC., a Colorado corporation (“Borrower”) hereby promises to pay to the order of VECTRA BANK COLORADO, NATIONAL ASSOCIATION (“Bank”), at 2000 South Colorado Boulevard, Suite 2-1200, Denver, Colorado 80222, or at such other address as may be specified by Bank, the principal sum of TWO MILLION FIVE HUNDRED THOUSAND AND NO/l00THS DOLLARS ($2,500,000.00), together with interest on the balance of principal outstanding from time to time as set forth in the Loan Agreement (defined below), in lawful money of the United States of America. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Loan Agreement.
REVOLVING PROMISSORY NOTERevolving Promissory Note • April 30th, 2003 • Act Teleconferencing Inc • Communications services, nec • Colorado
FOR VALUE RECEIVED, the undersigned, ACT TELECONFERENCING, INC., a Colorado corporation (“Borrower”) hereby promises to pay to the order of VECTRA BANK COLORADO, NATIONAL ASSOCIATION (“Bank”), at 2000 South Colorado Boulevard, Suite 2-1200, Denver, Colorado 80222, or at such other address as may be specified by Bank, the principal sum of TWO MILLION AND NO/lOOTHS U.S. DOLLARS ($2,000,000.00), or so much thereof as may be advanced from time to time to or for the benefit of Borrower, together with interest on the balance of principal outstanding from time to time as set forth in the Loan Agreement (defined below), in lawful money of the United States of America. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Loan Agreement.
SECURITY AGREEMENTSecurity Agreement • April 30th, 2003 • Act Teleconferencing Inc • Communications services, nec • Colorado
THIS SECURITY AGREEMENT (the “Security Agreement”) is entered into as of October 16, 2002, between VECTRA BANK COLORADO, NATIONAL ASSOCIATION (“Bank”) and ACT TELECONFERENCING, INC., a Colorado corporation (“Borrower”), ACT VIDEOCONFERENCING, INC., a Minnesota corporation (“Videoconferencing”) and ACT TELECONFERENCING SERVICES, INC., a Minnesota corporation (“Services”). Borrower, Videoconferencing and Services are hereinafter collectively referred to as “Debtor”.
REVOLVING CREDIT AND TERM LOAN AGREEMENTRevolving Credit and Term Loan Agreement • April 30th, 2003 • Act Teleconferencing Inc • Communications services, nec • Colorado
THIS REVOLVING CREDIT AND TERM LOAN AGREEMENT (“Agreement”) is entered into as of October 16, 2002, by and among VECTRA BANK COLORADO, NATIONAL ASSOCIATION (“Bank”), and ACT TELECONFERENCING, INC., a Colorado corporation (“Borrower”), and ACT VIDEOCONFERENCING INC., a Minnesota corporation, and ACT TELECONFERENCING SERVICES, INC., a Minnesota corporation (collectively, the “Guarantors”).
