PROMISSORY NOTEInnovative Food Holdings Inc • June 20th, 2023 • Wholesale-groceries, general line • Texas
FOR VALUE RECEIVED, INNOVATIVE FOOD HOLDINGS, INC., a Florida corporation, and INNOVATIVE FOOD PROPERTIES, LLC, a Delaware limited liability company (collectively, the “Borrower”), having an address at 28411 Race Track Road, Bonita Springs, FL 34135, hereby promises to pay to the order of MAPLEMARK BANK (together with its successors and assigns and any subsequent holders of this Promissory Note, the “Lender”), as hereinafter provided, the principal sum of NINE MILLION FIFTY-SEVEN THOUSAND EIGHT HUNDRED AND FORTY DOLLARS ($9,057,840), together with interest thereon at the Note Rate (as hereinafter defined), and otherwise in strict accordance with the terms and provisions hereof. This Promissory Note is a Note evidencing the Loan under the Loan Agreement.
PLEDGE AND SECURITY AGREEMENTPledge and Security Agreement • June 20th, 2023 • Innovative Food Holdings Inc • Wholesale-groceries, general line • Texas
THIS PLEDGE AND SECURITY AGREEMENT is entered into as of June 13, 2023 by and among INNOVATIVE FOOD HOLDINGS, INC., a Florida corporation (“IVFH”), and INNOVATIVE FOOD PROPERTIES, LLC, a Delaware limited liability company (“IVFP” and, collectively with IVFH, the “Borrower”), each of the parties set forth on the signature pages hereof (together with the Borrower, each a “Grantor” and, collectively, the “Grantors”), and MAPLEMARK BANK (together with its successors and assigns, the “Lender”) on behalf of itself and its Affiliates (“Secured Party”).
LOAN AGREEMENTLoan Agreement • June 20th, 2023 • Innovative Food Holdings Inc • Wholesale-groceries, general line • Texas
THIS LOAN AGREEMENT is made and entered into as of June 13, 2023 (the “Effective Date”) between MAPLEMARK BANK (together with its successors and assigns, the “Bank”), INNOVATIVE FOOD HOLDINGS, INC., a Florida corporation (“IVFH”), and INNOVATIVE FOOD PROPERTIES, LLC, a Delaware limited liability company (“IVFP” and, collectively with IVFH, the “Borrower”).
LOAN MODIFICATIONLoan Modification • June 20th, 2023 • Innovative Food Holdings Inc • Wholesale-groceries, general line • Texas
THIS LOAN MODIFICATION (“Modification”), dated effective as of May 27, 2023, is between INNOVATIVE FOOD HOLDINGS, INC., a Florida corporation, and INNOVATIVE FOOD PROPERTIES, LLC, a Delaware limited liability company (collectively, the “Borrower”), and MAPLEMARK BANK (together with its successors and assigns, “Lender”).
