AGREEMENT FOR WHOLESALE FINANCING (SECURITY AGREEMENT)Agreement for Wholesale Financing (Security Agreement • August 13th, 2001 • Syscomm International Corp • Services-computer integrated systems design • New York
This Agreement for Wholesale Financing - Security Agreement (as amended, supplemented or otherwise modified from time to time, this “Agreement”) dated as of January 5, 2001(replacing the same agreement dated as of November 27, 2000) is by and between IBM Credit Corporation, a Delaware corporation, with a place of business at 1500 RiverEdge Parkway, Atlanta, GA 30358 (“IBM Credit”), and Information Technology Services, Inc., a New York corporation, (“Customer”). This Agreement replaces that Inventory and Working Capital Financing Agreement between the IBM Credit and Customer (as amended, modified or supplemented from time to time) dated September 24, 1996.
COLLATERALIZED GUARANTYCollateralized Guaranty • August 13th, 2001 • Syscomm International Corp • Services-computer integrated systems design • New York
This Collateralized Guaranty (as amended, supplemented or otherwise modified from time to time, this “Collateralized Guaranty”) which supercedes and replaces any previous guaranty by and between the parties is hereby executed as of the 23rd day of May, 2001 by each of the parties listed on the signature pages hereof (individually a “Guarantor” and jointly the “Guarantors”), on behalf of APPLIED DIGITAL SOLUTIONS, INC. (“Borrower”), in favor of IBM Credit Corporation (“IBM Credit”) with an office located at North Castle Drive, Armonk, NY 10504.
