FIRST AMENDMENT TO SECURITY AGREEMENTSecurity Agreement • July 21st, 2014 • Z Trim Holdings, Inc • Grain mill products • Illinois
WHEREAS, the Debtor and Secured Party have entered in that certain Security Agreement dated as of March 24, 2014 (the "Security Agreement") to secure a certain equipment revolving loan made by Secured Party to Debtor in the principal sum of $500,000.00 (such loan, together with all extensions, renewals, amendments, refinancings, modifications, consolidations and conversions thereof or thereto, the "Loan") and all other Liabilities (as defined in the Security Agreement); and
AMENDED AND RESTATED EQUIPMENT REVOLVING NOTEEquipment Revolving Note • July 21st, 2014 • Z Trim Holdings, Inc • Grain mill products
Z TRIM HOLDINGS, INC., an Illinois corporation (the “Borrower”), having its chief executive office located at 1011 Campus Drive, Mundelein, Illinois 60060, promises to pay to the order of FORDHAM CAPITAL PARTNERS, LLC, a Delaware limited liability company (together with its successors and assigns, the “Lender”), with an office located at 910 Skokie Boulevard, Suite 200, Northbrook, Illinois 60062, the principal sum of FIVE HUNDRED EIGHTY TWO THOUSAND EIGHT HUNDRED FORTY ONE AND 63/100 ($582,841.63) (U.S.), or if less, the aggregate unpaid principal amount of all advances ("Advances") made by the Lender to the Borrower under this Amended and Restated Equipment Revolving Note (the "Note"), plus interest payable monthly on the unpaid principal balances hereof from time to time unpaid calculated at the fixed rate of twenty-two percent (22%) per annum (the "Interest Rate").
Loan AGREEMENT by and between Z Trim Holdings, Inc., (Hereinafter referred to as "Z Trim" or “Borrower”) and Edward Smith (Hereinafter referred to as "Lender")Loan Agreement • July 21st, 2014 • Z Trim Holdings, Inc • Grain mill products • Illinois
This Loan will be repaid in full within 90 days of the date of this Agreement, subject to the terms of the Borrower’s agreements with its other secured creditors.
