LOAN AND SECURITY AGREEMENTLoan and Security Agreement • July 2nd, 2014 • Net Element, Inc. • Services-computer processing & data preparation • Illinois
THIS LOAN AND SECURITY AGREEMENT (the "Agreement") has been executed, effective as of this 30th day of June, 2014 ("Closing Date"), by and between RBL Capital Group, LLC, a New York limited liability company ("RBL"), and TOT Group, Inc., a Delaware corporation ("TOT"), TOT Payments, LLC, a Florida limited liability company and wholly owned subsidiary of TOT (“Payments”), TOT BPS, LLC, a Florida limited liability company and wholly owned subsidiary of Payments (“BPS”), TOT FBS, LLC, a Florida limited liability company and wholly owned subsidiary of Payments (“FBS”), Process Pink, LLC, a Florida limited liability company and wholly owned subsidiary of Payments (“Pink”), TOT HPS, LLC, a Florida limited liability company and wholly owned subsidiary of Payments (“HPS”) and TOT New Edge, LLC, a Florida limited liability company and wholly owned subsidiary of Payments (“New Edge”). TOT, Payments, BPS, FBS, Pink, HPS and New Edge, jointly and severally, “Co-Borrowers”.
