PROMISSORY NOTE (Term Loan-Prime)Promissory Note • September 29th, 2008 • Advanced Photonix Inc • Semiconductors & related devices
This Note shall be repaid by consecutive monthly installments of principal, each in the amount of Thirty Six Thousand One Hundred Sixty and 76/100 Dollars ($36,160.76) plus interest, commencing on the third day of November, 2008 and continuing on the first Business Day of each month thereafter, calculated using an original four (4) year amortization from the date of this Note. The unpaid principal balance and all accrued interest thereon shall be due and payable in full on the Maturity Date (or earlier upon acceleration). Amounts repaid may not be readvanced.
Continuing Security AgreementContinuing Security Agreement • September 29th, 2008 • Advanced Photonix Inc • Semiconductors & related devices • Michigan
PATENT, TRADEMARK AND COPYRIGHT SECURITY AGREEMENTPatent, Trademark and Copyright Security Agreement • September 29th, 2008 • Advanced Photonix Inc • Semiconductors & related devices • Michigan
PATENT, TRADEMARK AND COPYRIGHT SECURITY AGREEMENT, dated as of __________, 200__, made by Advanced Photonix, Inc., a Delaware corporation (the “Grantor”), in favor of The PrivateBank and Trust Company, an Illinois banking corporation (the “Lender”).
Continuing GuarantyContinuing Guaranty • September 29th, 2008 • Advanced Photonix Inc • Semiconductors & related devices
Guaranty: To induce The PrivateBank and Trust Company (the “Lender”) directly or through any of its branches, offices, subsidiaries, or affiliates to provide or extend certain financial accommodations and Liabilities to Advanced Photonix, Inc., a Delaware corporation (the “Borrower”), and because the undersigned (the “Guarantor”) has determined that executing this Guaranty is in its interest and to its financial benefit, the Guarantor absolutely and unconditionally guaranties to the Lender the full and prompt payment of all Liabilities when due, whether at stated maturity, on demand, by acceleration or otherwise. The Guarantor’s obligations under this Guaranty shall be payable in lawful money of the United States of America.
LOAN AGREEMENTLoan Agreement • September 29th, 2008 • Advanced Photonix Inc • Semiconductors & related devices • Michigan
THIS LOAN AGREEMENT (this “Agreement”) is made as of the 25th of September, 2008, by and between The PrivateBank and Trust Company (“Lender”) and Advanced Photonix, Inc., a Delaware corporation (“Borrower”) having an address of 2925 Boardwalk, Ann Arbor, Michigan 48104.
