Between CRICIPECPA LP as Lessor andLease Agreement • August 13th, 2004 • Ipec Holdings Inc • Metal forgings & stampings
GUARANTYGuaranty • August 13th, 2004 • Ipec Holdings Inc • Metal forgings & stampings • Alabama
1,800,000.00 New Castle, PA May 21, 2004 FOR VALUE RECEIVED, the undersigned, INTERNATIONAL PLASTICS AND EQUIPMENT CORP., a Pennsylvania corporation with an address of RD#3 Box 7-A, New Castle, PA 16103 ("Borrower") hereby promises to pay to the order...Ipec Holdings Inc • August 13th, 2004 • Metal forgings & stampings
FOR VALUE RECEIVED, the undersigned, INTERNATIONAL PLASTICS AND EQUIPMENT CORP., a Pennsylvania corporation with an address of RD#3 Box 7-A, New Castle, PA 16103 ("Borrower") hereby promises to pay to the order of SKY BANK, an Ohio banking institution, with an address of 101 East Washington Street, New Castle, Pennsylvania 16101 ("Bank"), pursuant to the terms of that certain Letter of Credit and Reimbursement Agreement dated of even date herewith among Borrower and Bank (the "Reimbursement Agreement") the lesser of (i) ONE MILLION EIGHT HUNDRED THOUSAND AND 00/100 DOLLARS ($1,800,000.00), and (ii) the aggregate unpaid principal amount of all Loans (as defined in the Reimbursement Agreement) made by or on behalf of Bank under the Reimbursement Agreement and the Letter of Credit (as defined in the Reimbursement Agreement). Borrower hereby further promises to pay to the order of Bank interest on any unpaid principal amount of this Note from time to time outstanding at the rate or rates p
ARTICLE I DEFINITIONSLetter of Credit and Reimbursement Agreement • August 13th, 2004 • Ipec Holdings Inc • Metal forgings & stampings • Pennsylvania
