WAIVER January 25, 2013Credit Agreement • March 15th, 2013 • Advanced Environmental Recycling Technologies Inc • Millwood, veneer, plywood, & structural wood members • New York
SUBORDINATION AGREEMENTSubordination Agreement • March 15th, 2013 • Advanced Environmental Recycling Technologies Inc • Millwood, veneer, plywood, & structural wood members • Georgia
This SUBORDINATION AGREEMENT (this "Agreement") is made on November 15, 2012, by and among ADVANCED ENVIRONMENTAL RECYCLING TECHNOLOGIES, INC., a Delaware corporation ("Debtor"); H.I.G. AERT, LLC, a Delaware limited liability company, solely in its capacity as agent (together with its successors and assigns in such capacity, "Subordinate Agent") for various financial institutions (solely in their capacity as lenders, "Subordinate Lenders"; Subordinate Lenders and Subordinate Agent are hereinafter referred to collectively as "Subordinate Creditors" and each individually as a "Subordinate Creditor"); Subordinate Lenders, and ALOSTAR BANK OF COMMERCE, a state banking institution incorporated or otherwise organized under the laws of the State of Alabama ("Senior Creditor").
