Demand Note and Loan AgreementBanyan Rail Services Inc. • March 2nd, 2017 • Sanitary services • Florida
For Value Received, Banyan Rail Services Inc., a Delaware Corporation (“Company”), promises to pay to Boca Equity Partners LLC, a Delaware limited liability company, its successors and assigns (“Holder”), the principal advanced by Holder to the Company hereunder as reflected on the attached loan schedule (each an “Advance”), plus interest on the aggregate unpaid principal balance from time to time outstanding at the rate of 10.0% per annum from the date advanced, in accordance with the terms of this Demand Note and Loan Agreement (this “Note”). Holder may, but is not required to, make Advances to the Company as the Company may from time to time request, and the attached loan schedule shall be updated to reflect each Advance as and when it is made. This Note replaces a $250,000 Demand Note and Loan Agreement from the Company to Holder dated July 27, 2016 (the “July Note”), and the July Note is hereby cancelled and terminated. The initial principal amount of this Note represent advances
