BUSINESS LOAN AGREEMENTBusiness Loan Agreement • March 7th, 2013 • ERBA Diagnostics, Inc. • Pharmaceutical preparations • New York
THIS BUSINESS LOAN AGREEMENT dated March 1, 2013, is made and executed between Erba Diagnostics, Inc. ("Borrower") and Citibank, N.A. ("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. 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.
FORM OF COMMERCIAL SECURITY AGREEMENTCommercial Security Agreement • March 7th, 2013 • ERBA Diagnostics, Inc. • Pharmaceutical preparations • New York
THIS COMMERCIAL SECURITY AGREEMENT dated March 1, 2013, is made and executed among ______________ ("Grantor"); Erba Diagnostics, Inc. ("Borrower"); and Citibank, N.A. ("Lender").
FORM OF COMMERCIAL GUARANTYERBA Diagnostics, Inc. • March 7th, 2013 • Pharmaceutical preparations • New York
CONTINUING GUARANTEE OF PAYMENT AND PERFORMANCE. For good and valuable consideration, __________ (“Guarantor”) absolutely and unconditionally guarantees full and punctual payment and satisfaction of the Indebtedness of Erba Diagnostics, Inc. (“Borrower”) to Citibank, N.A. (“Lender”), and the performance and discharge of all Borrower's obligations under the Note and the Related Documents. This is a guaranty of payment and performance and not of collection, so Lender can enforce this Guaranty against Guarantor even when Lender has not exhausted Lender's remedies against anyone else obligated to pay the Indebtedness or against any collateral securing the Indebtedness, this Guaranty or any other guaranty of the Indebtedness. Guarantor will make any payments to Lender or its order, on demand, in legal tender of the United States of America, in same-day funds, without set-off or deduction or counterclaim, and will otherwise perform Borrower's obligations under the Note and Related Documents.
