SECURITY AGREEMENTSecurity Agreement • November 6th, 2009 • Dover Motorsports Inc • Services-amusement & recreation services
THIS SECURITY AGREEMENT (“Agreement”) is entered into as of the 21st day of August, 2009 by and between DOVER MOTORSPORTS CORPORATION, a Delaware corporation, DOVER INTERNATIONAL SPEEDWAY, INC., a Delaware corporation, GATEWAY INTERNATIONAL MOTORSPORTS CORPORATION, an Illinois corporation, MEMPHIS INTERNATIONAL MOTORSPORTS CORPORATION, a Tennessee corporation, NASHVILLE SPEEDWAY USA, INC., a Tennessee corporation, and MIDWEST RACING, INC., a California corporation (collectively, the “Borrowers”); and PNC BANK, NATIONAL ASSOCIATION, in its capacity as agent (“Agent”) under the Credit Agreement dated February 17, 2004 by and between the Borrowers, the Agent and the “Lenders” that are parties thereto (as amended, modified, or restated from time to time, the “Credit Agreement”).
