RATIFICATION AND CONSENT OF GUARANTYRatification and Consent of Guaranty • April 4th, 2011 • Unilens Vision Inc • Ophthalmic goods
THIS RATIFICATION AND CONSENT OF GUARANTY (this “Ratification and Consent”) is made as of the 31st day of March, 2011, by UNILENS VISION, INC., a Delaware corporation having an address of 1780-400 Burrard Street, Vancouver, B.C. V6C 3A6 (“Guarantor”), for the benefit of REGIONS BANK, an Alabama banking corporation, having an address of 100 North Tampa Street, Suite 3100, Tampa, Florida 33602 (“Lender”).
SECOND AMENDED AND RESTATED TERM NOTETerm Note • April 4th, 2011 • Unilens Vision Inc • Ophthalmic goods
This Note shall bear interest on the daily outstanding balance of principal at a variable rate per annum, calculated on a 365/360 basis, equal to (i) the LIBOR Rate plus four and one quarter percent (4.25%) if the Fixed Charge Coverage Ratio is less than 1.75 to 1.00, or (ii) the LIBOR Rate plus three and three quarters percent (3.75%) if the Fixed Charge Coverage Ratio is equal to or greater than 1.75 to 1.00, such LIBOR Rate to change automatically from time to time, but not more often than once per month. Notwithstanding the foregoing, in no event shall the interest rate hereunder be less than four and three quarters percent (4.75%) per annum; provided, however, such foregoing minimum rate shall not be applicable during any time that Swap Documents (as hereinafter defined) are in effect. Any necessary change to the interest rate spread shall occur within thirty (30) days after Lender’s receipt of Maker’s required financial reporting requirements.
SECOND AMENDMENT TO CREDIT AND SECURITY AGREEMENT AND OTHER LOAN DOCUMENTSCredit and Security Agreement • April 4th, 2011 • Unilens Vision Inc • Ophthalmic goods
THIS SECOND AMENDMENT TO CREDIT AND SECURITY AGREEMENT AND OTHER LOAN DOCUMENTS (this “Amendment”) is made and entered into as of March 31, 2011, by and between UNILENS CORP. USA, a Delaware corporation and UNILENS VISION SCIENCES INC., a Delaware corporation (together, “Borrower”) and REGIONS BANK, an Alabama corporation (“Lender”).
