THIRD AMENDMENT TO LINE OF CREDIT LOAN AGREEMENTLine of Credit Loan Agreement • September 12th, 2005 • MGP Ingredients Inc • Grain mill products • Missouri
THIS THIRD AMENDMENT TO LINE OF CREDIT LOAN AGREEMENT (“Third Amendment”) is made effective as of September 9, 2005, by and between MGP INGREDIENTS, INC. (“Company”) and COMMERCE BANK, N.A. (“Bank”).
THIRD AMENDED AND RESTATED LINE OF CREDIT NOTELine of Credit Note • September 12th, 2005 • MGP Ingredients Inc • Grain mill products
This Third Amended and Restated Line of Credit Note shall bear interest at the per annum rates as set forth in the Loan Agreement. Accrued interest shall be paid on the days provided therefor in the Loan Agreement, and upon the due date and payment (including prepayment) in full of the unpaid principal amount hereof. Accrued interest shall be calculated on the actual number of days outstanding based on a year consisting of 360 days. After maturity (whether by acceleration or otherwise), this Third Amended and Restated Line of Credit Note shall bear interest at 3% in excess of the Prime Rate (as that term is defined in the Loan Agreement); and if not paid monthly, such interest shall be compounded monthly.
