CREDIT AND SECURITY AGREEMENT dated as of April 8, 2015 by and among PEOPLESERVE PRS, INC., Borrower and MIDCAP FINANCIAL TRUST, as Administrative Agent and as a Lender, and THE ADDITIONAL LENDERS FROM TIME TO TIME PARTY HERETOCredit and Security Agreement • April 9th, 2015 • Staffing 360 Solutions, Inc. • Services-help supply services • Maryland
THIS CREDIT AND SECURITY AGREEMENT (as the same may be amended, supplemented, restated or otherwise modified from time to time, the “Agreement”) is dated as of April 8, 2015 by and among PEOPLESERVE PRS, INC., a Massachusetts corporation (“PRS” or “Borrower”,”), MIDCAP FINANCIAL TRUST, a Delaware statutory trust, individually as a Lender, and as Agent, and the financial institutions or other entities from time to time parties hereto, each as a Lender.
REGISTRATION RIGHTS AGREEMENTRegistration Rights Agreement • April 9th, 2015 • Staffing 360 Solutions, Inc. • Services-help supply services • New York
This Registration Rights Agreement (this “Agreement”), is made and entered into as of April 8, 2015, by and between Staffing 360 Solutions, Inc., a Nevada corporation (the “Company”), and MidCap Financial Trust, a Delaware statutory trust (the “Investor”).
term LOAN NOTETerm Loan Note • April 9th, 2015 • Staffing 360 Solutions, Inc. • Services-help supply services
FOR VALUE RECEIVED, each of PEOPLESERVE, INC., a Massachusetts corporation, and MONROE STAFFING SERVICES, LLC, a Delaware limited liability company (individually, each a “Borrower” and collectively, the “Borrowers”), hereby jointly and severally unconditionally promises to pay to the order of MIDCAP FINANCIAL TRUST, a Delaware statutory trust (together with its successors and assigns, “Lender”) at the office of Agent (as defined herein) at 7255 Woodmont Avenue, Suite 200, Bethesda, MD 20814, or at such other place as Agent may from time to time designate in writing, in lawful money of the United States of America and in immediately available funds, in the principal sum of Three Million and No/100 Dollars ($3,000,000.00), pursuant to the terms of that certain Credit and Security Agreement dated as the same date as this Note (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among Borrowers, such other borrowers that may become “B
ADDITIONAL term LOAN NOTETerm Loan Note • April 9th, 2015 • Staffing 360 Solutions, Inc. • Services-help supply services
FOR VALUE RECEIVED, each of PEOPLESERVE, INC., a Massachusetts corporation, and MONROE STAFFING SERVICES, LLC, a Delaware limited liability company (individually, each a “Borrower” and collectively, the “Borrowers”), hereby jointly and severally unconditionally promises to pay to the order of MIDCAP FINANCIAL TRUST, a Delaware statutory trust (together with its successors and assigns, “Lender”) at the office of Agent (as defined herein) at 7255 Woodmont Avenue, Suite 200, Bethesda, MD 20814, or at such other place as Agent may from time to time designate in writing, in lawful money of the United States of America and in immediately available funds, in the principal sum of One Million Three Hundred Fifty Thousand and No/100 Dollars ($1,350,000.00), pursuant to the terms of that certain Credit and Security Agreement dated as the same date as this Note (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among Borrowers, such other b
REVOLVING LOAN NOTERevolving Loan Note • April 9th, 2015 • Staffing 360 Solutions, Inc. • Services-help supply services
FOR VALUE RECEIVED, PEOPLESERVE PRS, INC., a Massachusetts corporation (“Borrower”), hereby unconditionally promises to pay to the order of MIDCAP FINANCIAL TRUST, a Delaware statutory trust (together with its successors and assigns, “Lender”) at the office of Agent (as defined herein) at 7255 Woodmont Avenue, Suite 200, Bethesda, MD 20814, or at such other place as Agent may from time to time designate in writing, in lawful money of the United States of America and in immediately available funds, in the principal sum of Three Million and No/100 Dollars ($3,000,000.00), or, if less, the aggregate unpaid principal amount of all Revolving Loans made or deemed made by Lender to Borrower under the terms of that certain Credit and Security Agreement dated as of April 8, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among Borrower, various financial institutions as are, or may from time to time become, parties thereto as len
REVOLVING LOAN NOTERevolving Loan Note • April 9th, 2015 • Staffing 360 Solutions, Inc. • Services-help supply services
FOR VALUE RECEIVED, each of PEOPLESERVE, INC., a Massachusetts corporation, and MONROE STAFFING SERVICES, LLC, a Delaware limited liability company (individually, each a “Borrower” and collectively, the “Borrowers”), hereby jointly and severally unconditionally promises to pay to the order of MIDCAP FINANCIAL TRUST, a Delaware statutory trust (together with its successors and assigns, “Lender”) at the office of Agent (as defined herein) at 7255 Woodmont Avenue, Suite 200, Bethesda, MD 20814, or at such other place as Agent may from time to time designate in writing, in lawful money of the United States of America and in immediately available funds, in the principal sum of Twenty-Two Million and No/100 Dollars ($22,000,000.00), or, if less, the aggregate unpaid principal amount of all Revolving Loans made or deemed made by Lender to Borrowers under the terms of that certain Credit and Security Agreement dated as of April 8, 2015 (as amended, restated, supplemented or otherwise modified
