LOAN AND SECURITY AGREEMENTLoan and Security Agreement • August 4th, 2023 • Dynatronics Corp • Surgical & medical instruments & apparatus • Illinois
This LOAN AND SECURITY AGREEMENT dated as of August 1, 2023 (the "Agreement"), is executed by and among DYNATRONICS CORPORATION, a Utah corporation ("Dynatronics"), HAUSMANN ENTERPRISES, LLC, a Utah limited liability company ("Hausmann"), BIRD & CRONIN LLC, a Utah limited liability company ("Bird") and DYNATRONICS DISTRIBUTION COMPANY, LLC, a Utah limited liability company ("Dynatronics Distribution", and together with Dynatronics, Hausmann and Bird are hereinafter each individually and collectively, on a joint and several basis, referred to as the "Borrower"), whose address is 1200 Trapp Road, Eagan, Minnesota 55121, and GIBRALTAR BUSINESS CAPITAL, LLC, a Delaware limited liability company (the "Lender"), whose address is 400 Skokie Boulevard, Suite 375, Northbrook, Illinois 60062. In consideration of the mutual agreements hereinafter set forth, the Borrower and the Lender hereby agree as follows:
