LOAN AND SECURITY AGREEMENT by and between SIEBERT FINANCIAL CORP., as Borrower and EAST WEST BANK, as Bank Dated as of July 29, 2024Loan and Security Agreement • August 20th, 2024 • Siebert Financial Corp • Security brokers, dealers & flotation companies • California
This LOAN AND SECURITY AGREEMENT (this “Agreement”), dated as of July 29, 2024, is entered into by and between EAST WEST BANK, a California banking corporation (“Bank”) and SIEBERT FINANCIAL CORP., a New York corporation (“Borrower”), with reference to the following facts:
CONTINUING GUARANTYContinuing Guaranty • August 20th, 2024 • Siebert Financial Corp • Security brokers, dealers & flotation companies • California
This CONTINUING GUARANTY (as amended, restated, supplemented or otherwise modified from time to time, this “Guaranty”), dated as of July 29, 2024, is executed and delivered by JOHN J. GEBBIA, individually and as a co-trustee of the JOHN AND GLORIA LIVING TRUST U/D/T DECEMBER 8, 1994, and GLORIA GEBBIA, individually and as a co-trustee of the JOHN AND GLORIA LIVING TRUST U/D/T DECEMBER 8, 1994 (individually and collectively, the “Guarantor”), in favor of EAST WEST BANK (“Lender”), in light of the following:
REVOLVER NOTERevolver Note • August 20th, 2024 • Siebert Financial Corp • Security brokers, dealers & flotation companies
This Revolver Note is entitled to the benefits of the Loan Agreement. The Loan Agreement, among other things, contains provisions for acceleration of the maturity of the Advances upon the happening of certain stated events and also for prepayments on account of any Advance hereof prior to the maturity of such Advance upon the terms and conditions specified in the Loan Agreement.
