SECURED EQUIPMENT TERM NOTESecured Equipment Term Note • January 25th, 2021 • Byrna Technologies Inc. • Miscellaneous electrical machinery, equipment & supplies
FOR VALUE RECEIVED, Borrower, on a joint and several basis, promises to pay to NEEDHAM BANK (hereinafter “Lender,” which term shall include its successors and permitted assigns), or its order, the Principal Amount of ___________________________ AND ___/100 DOLLARS ($____________________), or such lesser amount as may be outstanding hereunder, together with accrued interest thereon or on so much as remains outstanding at the effective Interest Rate herein specified. This Note is executed and delivered pursuant to the terms and conditions of that certain Commercial Loan and Security Agreement dated as of January 19, 2021 entered into between Borrower and Lender (the "Loan Agreement" which term shall include all modifications, extensions, renewals and replacements thereof).
SECURITY AGREEMENTCommercial Loan and Security Agreement • January 25th, 2021 • Byrna Technologies Inc. • Miscellaneous electrical machinery, equipment & supplies • Massachusetts
This COMMERCIAL LOAN AND SECURITY AGREEMENT (as it may be amended, restated, supplemented or otherwise modified from time to time, this “Agreement”) is made this 19th day of January 2021 (the “Effective Date”) by and between BYRNA TECHNOLOGIES INC., a Delaware corporation having its principal office location located at 100 Burtt Road, Andover, Massachusetts 01810 (“Borrower”), and NEEDHAM BANK, a Massachusetts co-operative bank having an address of 1063 Great Plain Avenue, Needham, Massachusetts 02492 (“Lender”).
SECURED REVOLVING LINE OF CREDIT NOTESecured Revolving Line of Credit Note • January 25th, 2021 • Byrna Technologies Inc. • Miscellaneous electrical machinery, equipment & supplies
FOR VALUE RECEIVED, the undersigned, BYRNA TECHNOLOGIES INC., a Delaware corporation (the "Borrower"), promises to pay to NEEDHAM BANK, a Massachusetts co-operative bank (the "Lender"), or its order, at the office of the Lender located at 1063 Great Plain Avenue, Needham, Massachusetts 02492, or such other place as the Lender shall designate, the maximum principal sum of FIVE MILLION and 00/100 DOLLARS ($5,000,000.00) (or if less, the aggregate unpaid principal amount of all loans or advances made by the Lender to the Borrower pursuant to this Secured Revolving Line of Credit Note (as it may be amended, restated, supplemented or otherwise modified from time to time, this "Note") and that certain Commercial Loan and Security Agreement of even date hereof entered into by and between the Lender and the Borrower (as the same may be amended, restated, supplemented or otherwise modified from time to time, the "Loan Agreement")), together with interest on the unpaid principal balance hereof a
