SECURITY AGREEMENTSecurity Agreement • July 1st, 2005 • Mitcham Industries Inc • Services-equipment rental & leasing, nec • Texas
This Security Agreement is made between MITCHAM INDUSTRIES, INC., located at P. O. Box 1175, Huntsville, Texas 77342-1175, referred to in this Security Agreement as the ‘‘Debtor,’’ and FIRST VICTORIA NATIONAL BANK, located at 101 S. Main Street, Victoria, Texas 77901, referred to in this Agreement as the ‘‘Secured Party.’’ Secured Party and Debtor enter into this Security Agreement on June 27, 2005 on the following terms and conditions:
LEASE AND RENTAL ASSIGNMENTLease and Rental Assignment • July 1st, 2005 • Mitcham Industries Inc • Services-equipment rental & leasing, nec
THAT THIS ASSIGNMENT made as of the 27th day of June, 2005, by MITCHAM INDUSTRIES, INC., a Texas corporation, whose address is P. O. Box 1175, Huntsville, Texas 77342-1175, (hereinafter referred to as “Assignor,”), to First Victoria National Bank, a national banking corporation with offices located at 101 South Main, Victoria, Texas 77901 (hereinafter referred to as “Assignee”), as follows:
LOAN AGREEMENTLoan Agreement • July 1st, 2005 • Mitcham Industries Inc • Services-equipment rental & leasing, nec • Texas
THIS AGREEMENT made and entered into on this 27th day of June, 2005, by and between MITCHAM INDUSTRIES, INC., a Texas corporation, with principal offices at Huntsville, in Walker County, Texas (herein referred to as “Borrower”), and First Victoria National Bank, a national banking corporation, with its offices and domicile in Victoria, Victoria County, Texas, (herein referred to as “Lender”) to induce Lender to extend credit to Borrower in the amounts evidenced by the promissory note described in Paragraph II A of this agreement (herein referred to as the “Loan”) and evidencing the line of credit described herein.
