ARTICLE I ISSUANCE OF STOCK AND PAYMENT OF SUBSCRIPTION PRICE; CLOSING ------------------------------------------------------------Preferred Stock Subscription Agreement • April 1st, 2003 • International Dispensing Corp • Fabricated rubber products, nec • New York
BACKGROUNDSecurity Agreement • April 1st, 2003 • International Dispensing Corp • Fabricated rubber products, nec • New York
Exhibit 10.20 BUSINESS LOAN AGREEMENT References in the shaded area are for Lender's use only and do not limit the applicability of this document to any particular loan or item. Any item above containing "~" has been omitted due to text length...Business Loan Agreement • April 1st, 2003 • International Dispensing Corp • Fabricated rubber products, nec
THIS BUSINESS LOAN AGREEMENT DATED JULY 2, 2002, IS MADE AND EXECUTED BETWEEN INTERNATIONAL DISPENSING CORPORATION ("BORROWER") AND COMMERCEFIRST BANK ("LENDER") ON THE FOLLOWING TERMS AND CONDITIONS. BORROWER HAS RECEIVED PRIOR COMMERCIAL LOANS FROM LENDER OR HAS APPLIED TO LENDER FOR A COMMERCIAL LOAN OR LOANS OR OTHER FINANCIAL ACCOMMODATIONS, INCLUDING THOSE WHICH MAY BE DESCRIBED ON ANY EXHIBIT OR SCHEDULE ATTACHED TO THIS AGREEMENT ("LOAN"). BORROWER UNDERSTANDS AND AGREES THAT: (A) IN GRANTING, RENEWING' OR EXTENDING ANY LOAN, LENDER IS RELYING UPON BORROWER'S REPRESENTATIONS, WARRANTIES, AND AGREEMENTS AS SET FORTH IN THIS AGREEMENT; (B) THE GRANTING, RENEWING, OR EXTENDING OF ANY LOAN BY LENDER AT ALL TIMES SHALL BE SUBJECT TO LENDER'S SOLE JUDGMENT AND DISCRETION; AND (C) ALL SUCH LOANS SHALL BE AND REMAIN SUBJECT TO THE TERMS AND CONDITIONS OF THIS AGREEMENT.
BACKGROUNDCollateral Assignment of Patents and Trademarks and Security Agreement • April 1st, 2003 • International Dispensing Corp • Fabricated rubber products, nec
