Committed Line of Credit Note (Daily LIBOR) $10,000,000.00 September 20, 2013Committed Line of Credit Note • September 24th, 2013 • Charles & Colvard LTD • Jewelry, silverware & plated ware
FOR VALUE RECEIVED, CHARLES & COLVARD, LTD., a North Carolina corporation (the “Borrower”), with an address at 300 Perimiter Park Drive, Suite A, Morrisville, North Carolina 27560, Attention: Chief Financial Officer, promises to pay to the order of PNC BANK, NATIONAL ASSOCIATION (the “Bank”), in lawful money of the United States of America in immediately available funds at its offices located at 134 North Church Street, Rocky Mount, North Carolina 27804, or at such other location as the Bank may designate from time to time, the principal sum of TEN MILLION AND 00/100 DOLLARS ($10,000,000.00) (the “Facility”) or such lesser amount as may be advanced to or for the benefit of the Borrower hereunder, together with interest accruing on the outstanding principal balance from the date hereof, all as provided below.
Loan AgreementLoan Agreement • September 24th, 2013 • Charles & Colvard LTD • Jewelry, silverware & plated ware
THIS LOAN AGREEMENT (the “Agreement”), is entered into as of September 20, 2013, between CHARLES & COLVARD, LTD., a North Carolina corporation (the “Borrower”), with an address at 300 Perimeter Park Drive, Suite A, Morrisville, North Carolina 27560, Attention: Chief Financial Officer and PNC BANK, NATIONAL ASSOCIATION (the “Bank”), with an address at 134 North Church Street, Rocky Mount, North Carolina 27804.
