BUSINESS LOAN AGREEMENT (ASSET BASED)Business Loan Agreement • March 10th, 2016 • NANOPHASE TECHNOLOGIES Corp • Miscellaneous primary metal products • Illinois
THIS BUSINESS LOAN AGREEMENT (ASSET BASED) dated March 4, 2016, is made and executed between Nanophase Technologies Corporation (“Borrower”) and Libertyville Bank and Trust Company (“Lender”) on the following terms and conditions. Borrower has received prior commercial loans from Lender or has applied to Lender for a commercial loan or loans or other financial accommodations, including those which may be described on any exhibit or schedule attached to this Agreement. Borrower understands and agrees that: (A) in granting, renewing, or extending any Loan, Lender is relying upon Borrower’s representations, warranties, and agreements as set forth in this Agreement; (B) the granting, renewing, or extending of any Loan by Lender at all times shall be subject to Lender’s sole judgment and discretion; and (C) all such Loans shall be and remain subject to the terms and conditions of this Agreement. This Agreement shall apply to any and all present and future loans, loan advances, extension of
CHANGE IN TERMS AGREEMENTChange in Terms Agreement • March 10th, 2016 • NANOPHASE TECHNOLOGIES Corp • Miscellaneous primary metal products • Illinois
DESCRIPTION OF EXISTING INDEBTEDNESS. Original Promissory Note dated March 4, 2015, in the original principal amount of $300,000.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agreement
