COMMERCIAL SECURITY AGREEMENTCommercial Security Agreement • May 11th, 2006 • Md Technologies Inc • Services-computer programming services
The date of this Commercial Security Agreement (Agreement) is MAY 05. 2006 SECURED DEBTS. This Agreement will secure all sums advanced by Secured Party under the terms of this Agreement and the payment and performance of the following described Secured Debts that (check one) X Debtor __ ______________________________________________ (Obligor) owes to Secured Party: ___ Specific Debts. The following debts and all extensions, renewals, refinancings, modifications, and replacements (describe): X All Debts. All present and future debts, even if this Agreement is not referenced, the debts are also secured by other collateral, or the future debt is unrelated to or of a different type than the current debt. Nothing in this Agreement is a commitment to make future loans or advances.
UNCONDITIONAL AND CONTINUING GUARANTY (the "GUARANTY") BY: PREMIER MEDICAL CONSULTANTS. INC. (hereinafter the "GUARANTOR")Unconditional and Continuing Guaranty • May 11th, 2006 • Md Technologies Inc • Services-computer programming services • Louisiana
For good and valuable consideration, the receipt of which is hereby acknowledged, and to induce BANCORPSOUTH BANK, a Mississippi banking corporation, its successors, participants, transferees, and assigns, (the "Bank") to extend or continue to extend credit to and/or otherwise acquire Obligations owing by MD TECHNOLOGIES INC. and its successors and assigns, heirs and legal representatives (the "Borrower"), and as a condition precedent thereto, and for the benefit to Guarantor from such accommodation, Guarantor hereby agrees as follows:
