Security AgreementSecurity Agreement • January 12th, 2011 • Northern Technologies International Corp • Coating, engraving & allied services
THIS SECURITY AGREEMENT (this “Agreement”), dated as of this 10th day of January, 2011, is made by NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION (the “Grantor”), with an address at 4201 Woodland Road, Circle Pines, Minnesota 55014, in favor of PNC BANK, NATIONAL ASSOCIATION, successor to NATIONAL CITY BANK (the “Bank”), with an address at 1900 East 9th Street, Cleveland, Ohio 45202.
Amended and Restated Guaranty AgreementGuaranty Agreement • January 12th, 2011 • Northern Technologies International Corp • Coating, engraving & allied services
THIS AMENDED AND RESTATED GUARANTY AGREEMENT (this “Guaranty”) is made and entered into as of this 10th day of January, 2011, by NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION (the “Guarantor”), with an address at 4021 Woodland Road, Circle Pines, Minnesota 55014, in consideration of the extension of credit by PNC BANK, NATIONAL ASSOCIATION, successor to NATIONAL CITY BANK (the “Bank”), with an address at 1900 East 9th Street, Cleveland, Ohio 44114, to NORTHERN TECHNOLOGIES HOLDING COMPANY, LLC (the “Borrower”), and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged. This Guaranty amends, restates and replaces that certain Commercial Guaranty, dated April 28, 2005, executed and delivered by the Guarantor to the Bank (as successor to National City Bank) (the “Existing Guaranty”). However, without duplication, this Guaranty shall in no way extinguish, cancel or satisfy the Guarantor’s obligation to repay any and all Indebtedness as define
Loan AgreementLoan Agreement • January 12th, 2011 • Northern Technologies International Corp • Coating, engraving & allied services
THIS LOAN AGREEMENT (the “Agreement”), is entered into as of January 10, 2011, between NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION (the “Borrower”), with an address at 4201 Woodland Road, Circle Pines, Minnesota 55014, and PNC BANK, NATIONAL ASSOCIATION (the “Bank”), with an address at 1900 East 9th Street, Cleveland, Ohio 45202.
Loan AgreementLoan Agreement • January 12th, 2011 • Northern Technologies International Corp • Coating, engraving & allied services
THIS LOAN AGREEMENT (the “Agreement”), is entered into as of January 10, 2011, between NORTHERN TECHNOLOGIES HOLDING COMPANY, LLC (the “Borrower”), with an address at 4201 Woodland Road, Circle Pines, Minnesota 55014, and PNC BANK, NATIONAL ASSOCIATION, successor to NATIONAL CITY BANK (the “Bank”), with an address at 1900 East 9th Street, Cleveland, Ohio 45202. This Agreement amends, restates and replaces (but does not constitute a novation of or affect the status of any liens or security interests granted pursuant to) the existing Commercial Note Addendum dated May 3, 2006, made by the Borrower for the benefit of the Bank (as successor to National City Bank) (the “Existing Note Addendum”), and the Borrower’s execution of this agreement constitutes a ratification and confirmation of all liens and security interests granted under or pursuant to the Existing Note Addendum.
Term Note (Daily LIBOR)Northern Technologies International Corp • January 12th, 2011 • Coating, engraving & allied services
FOR VALUE RECEIVED, NORTHERN TECHNOLOGIES HOLDING COMPANY, LLC (the “Borrower”), with an address at 4201 Woodland Road, Circle Pines, Minnesota 55014, promises to pay to the order of PNC BANK, NATIONAL ASSOCIATION, successor to NATIONAL CITY BANK (the “Bank”), in lawful money of the United States of America in immediately available funds at its offices located at 1900 East 9th Street, Cleveland, Ohio 44114, or at such other location as the Bank may designate from time to time in writing, the principal sum of ONE MILLION ONE HUNDRED FORTY ONE THOUSAND SEVEN HUNDRED EIGHTY EIGHT AND 03/100 DOLLARS ($1,141,788.03), together with interest accruing on the outstanding principal balance from the date hereof, all as provided below.
