Commercial Business Loan Agreement for Telkonet Inc. Line of CreditTelkonet Inc • September 10th, 2008 • Communications services, nec • Louisiana
This Agreement is dated September 9, 2008 and is between Thermo Credit, LLC ("Thermo") and Telkonet, Inc. and subsidiaries (hereinafter referred to as "Borrower).
PROMISSORY NOTETelkonet Inc • September 10th, 2008 • Communications services, nec • Louisiana
PROMISE TO PAY. For value received, the undersigned makers (hereinafter referred to as “Borrower,” which term means individually, collectively, and interchangeably any, each and/or all of them), promises to pay to the order of THERMO CREDIT LLC (“Lender”), or its registered assigns, in lawful money of the United States of America the sum of One Million and No/100 ($1,000,000.00) Dollars, or such other or lesser amounts as may be reflected from time to time on the books and records of Lender as evidencing the aggregate unpaid principal balance of loan advances made to Borrower on a revolving line of credit basis as provided in the Loan Documents.
SECURITY AGREEMENTSecurity Agreement • September 10th, 2008 • Telkonet Inc • Communications services, nec • Louisiana
THIS SECURITY AGREEMENT (“Agreement”), dated as of September 9, 2008, is made by TELKONET, INC. and Ethostream, LLC. (the “Debtor” or “Borrower”) in favor of THERMO CREDIT, L.L.C. (“Lender”), who agree as follows:
