Subordination AgreementSubordination Agreement • July 18th, 2012 • Brekford Corp. • Communications equipment, nec
THIS SUBORDINATION AGREEMENT (this “Agreement”) is entered into as of the _______ day of June, 2012, by and among PNC BANK, NATIONAL ASSOCIATION (the “Bank”), BREKFORD CORP. (the “Borrower”), and C. B. BRECHIN (the “Creditor”).
Loan AgreementLoan Agreement • July 18th, 2012 • Brekford Corp. • Communications equipment, nec
THIS LOAN AGREEMENT (the “Agreement”), is entered into as of June _____, 2012, between BREKFORD CORP. (the “Borrower”), with an address at 7020 Dorsey Road, Suite C, Hanover, Maryland 21076, and PNC BANK, NATIONAL ASSOCIATION (the “Bank”), with an address at Two Hopkins Plaza, 20th Floor, Baltimore, Maryland 21201.
Committed Line of Credit Note (Daily LIBOR) $3,000,000.00 June ___, 2012Committed Line of Credit Note • July 18th, 2012 • Brekford Corp. • Communications equipment, nec
FOR VALUE RECEIVED, BREKFORD CORP. (the “Borrower”), with an address at 7020 Dorsey Road, Suite C, Hanover, Maryland 21076, promises to pay to the order of PNC BANK, NATIONAL ASSOCIATION (the “Bank”), in lawful money of the United States of America in immediately available funds at its offices located at Two Hopkins Plaza, 20th Floor, Baltimore, Maryland 21201, or at such other location as the Bank may designate from time to time, the principal sum of THREE MILLION AND 00/100 DOLLARS ($3,000,000.00) (the “Facility”) or such lesser amount as may be advanced to or for the benefit of the Borrower hereunder, together with interest accruing on the outstanding principal balance from the date hereof, all as provided below.
