Reimbursement Agreement for Letters of CreditReimbursement Agreement • November 20th, 2009 • Environmental Tectonics Corp • Miscellaneous electrical machinery, equipment & supplies • Pennsylvania
THIS REIMBURSEMENT AGREEMENT FOR LETTERS OF CREDIT (this “Agreement”) is made as of this 16th day of November, 2009, 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. 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 the Bank to issue two letters of credit (each, a “Credit”). The Bank may issue any such Credit, but the Bank shall have no obligation to do so unless otherwise agreed in writing. The Obligor agrees that the following terms and conditions shall apply to any Credit:
Pledge Agreement (Bank Deposits)Pledge Agreement • November 20th, 2009 • Environmental Tectonics Corp • Miscellaneous electrical machinery, equipment & supplies • Pennsylvania
THIS PLEDGE AGREEMENT, dated as of this 16th day of November, 2009, is made by ENVIRONMENTAL TECTONICS CORPORATION (the “Pledgor”), with an address at 125 James Way, Southampton, PA 18966, in favor of PNC BANK, NATIONAL ASSOCIATION (the “Secured Party”), with an address at 1000 Westlakes Drive, Suite 200, Berwyn, PA 19312.
AMENDMENT TO SUBORDINATION AGREEMENTSubordination Agreement • November 20th, 2009 • Environmental Tectonics Corp • Miscellaneous electrical machinery, equipment & supplies • Pennsylvania
THIS AMENDMENT TO SUBORDINATION AGREEMENT (this “Amendment”), dated as of November 16, 2009, is between PNC BANK, NATIONAL ASSOCIATION (the “Bank”), H. F. LENFEST (the “Subordinated Lender”) and ENVIRONMENTAL TECTONICS CORPORATION, a Pennsylvania corporation (“Company”).
