LOAN AGREEMENTLoan Agreement • July 21st, 2023 • Immucell Corp /De/ • In vitro & in vivo diagnostic substances • Maine
THIS LOAN AGREEMENT (“Agreement”) effective as of the 17 day of July, 2023, by and between IMMUCELL CORPORATION, a Delaware Corporation with a mailing address of 56 Evergreen Drive, Portland, Maine 04103 (hereinafter “Borrower”), and GORHAM SAVINGS BANK, a Maine banking company, with a mailing address of 10 Wentworth Drive, Gorham, Maine 04038, and its successors and assigns (the “Bank”).
ECONOMIC RECOVERY LOAN PROGRAM LOAN AGREEMENTLoan Agreement • July 21st, 2023 • Immucell Corp /De/ • In vitro & in vivo diagnostic substances
This Loan Agreement is made and dated as of July 17, 2023, by and between IMMUCELL CORPORATION, a corporation organized and existing under the laws of the State of Delaware (the “Borrower”), the FINANCE AUTHORITY OF MAINE, a body corporate and politic and a public instrumentality of the State of Maine (the “Authority”).
TERM NOTEImmucell Corp /De/ • July 21st, 2023 • In vitro & in vivo diagnostic substances
FOR VALUE RECEIVED, IMMUCELL CORPORATION, a Delaware corporation with a place of business at 56 Evergreen Drive, Portland, Maine 04103 (the “Borrower”), promises to pay to the order of GORHAM SAVINGS BANK (“Lender”), the principal sum of Two Million and 00/100 Dollars ($2,000,000) or so much thereof as may be advanced and outstanding from time to time) together with interest thereon at a rate per annum (“Interest Rate”) equal to seven percent (7%) per annum.
