SECURITY AGREEMENTSecurity Agreement • March 16th, 2010 • Thermoenergy Corp • Hazardous waste management • Delaware
THIS SECURITY AGREEMENT (this “Agreement”) is dated as of March 1, 2010, and is entered into by and among ThermoEnergy Corporation, a Delaware corporation having its principal place of business in Little Rock, Arkansas (the “Borrower”) and the persons and entities named on Schedule I hereto (collectively, the “Secured Parties”) and The Quercus Trust, for itself and as the agent for and for the benefit of the other Secured Parties (the “Agent”). Capitalized terms not otherwise defined herein are used as defined in the Delaware Uniform Commercial Code on the date of this Agreement (the “UCC”).
ThermoEnergy Corporation Bridge Loan AgreementBridge Loan Agreement • March 16th, 2010 • Thermoenergy Corp • Hazardous waste management • Delaware
This Bridge Loan Agreement (this “Agreement”) made this 10th day of March 2010 but effective as of March 1, 2010 by and among ThermoEnergy Corporation, a Delaware corporation having its principal place of business in Little Rock, Arkansas (the “Borrower”) and the individual and entities named on Schedule I hereto (collectively, the “Lenders”).
3% SECURED CONVERTIBLE PROMISSORY NOTESecured Convertible Promissory Note • March 16th, 2010 • Thermoenergy Corp • Hazardous waste management
This Note is one of several substantially identical promissory notes in the initial aggregate principal amount of $2,700,000 issued by the Borrower on or about the date hereof pursuant to that certain Bridge Loan Agreement of even date herewith by and among the Borrower, the Holder and certain other persons (the “Bridge Loan Agreement”) (which promissory notes are referred to herein as the “Series Notes”). So long as this Note is outstanding the Holder shall be entitled to the benefit of, and subject to the provisions of, the Bridge Loan Agreement.
