BUSINESS LOAN AGREEMENTBusiness Loan Agreement • March 8th, 2011 • VCG Holding Corp • Services-amusement & recreation services
THIS BUSINESS LOAN AGREEMENT dated August 28, 2009, is made and executed between Lowrie Management, LLLP (“Borrower”) and Citywide Banks (“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.
CHANGE IN TERMS AGREEMENTChange in Terms Agreement • March 8th, 2011 • VCG Holding Corp • Services-amusement & recreation services
PROMISE TO PAY. Lowrie Management, LLLP (“Borrower”) promise to pay to Citywide Banks (“Lender”), or order, in lawful money of the United States of America, the principal amount of Two Million Six Hundred Six Thousand Five Hundred & 00/100 Dollars ($2,606,500.00) or so much as may be outstanding, together with interest on the unpaid principal balance of each advance. Interest shall be calculated from the date of each advance until repayment of each advance.
CHANGE IN TERMS AGREEMENTChange in Terms Agreement • March 8th, 2011 • VCG Holding Corp • Services-amusement & recreation services
DESCRIPTION OF CHANGE IN TERMS. Effective September 16, 2010, the term of the Note is extended to September 16, 2011. Effective September 16, 2010, the interest rate is modified as described in the VARIABLE INTEREST RATE section below.
