SECOND AMENDMENT TO REVOLVING AND TERM LOAN AGREEMENTRevolving and Term Loan Agreement • March 31st, 2011 • Express-1 Expedited Solutions Inc • Transportation services
THIS AMENDMENT (the “ Second Amendment”) is effective as of March 31, 2011 and is made by and among PNC Bank, National Association, successor to National City Bank (the “Bank”), EXPRESS-1 EXPEDITED SOLUTIONS, INC., a Delaware corporation (“Borrower”), whose address is 429 Post Road, Buchanan, Michigan 49107, Express 1, Inc., a Michigan corporation, Concert Group Logistics, Inc., a Delaware Corporation, Bounce Logistics, Inc., a Delaware Corporation, and LRG International, Inc., a Delaware corporation, (collectively the “Guarantors” or individually a “Guarantor”) whose address is 429 Post Road, Buchanan, Michigan 49107. This Second Amendment amends a certain Revolving and Term Loan Agreement made as of January 31, 2008 among National City Bank, Borrower, Express-1 Dedicated, Inc. and all of the Guarantors, except LRG International, Inc., as amended by an Amendment to Revolving and Term Loan Agreement made as of March 31, 2010 among the Bank, the Borrower and the Guarantors (collectively
COMMERCIAL REVOLVING NOTE FOR BANK USE ONLY (Michigan version) Borrower * Amount City, State Date Obligor # * $10,000,000.00 St. Joseph, MI March 31, 2011 Obligation # * Office *Express-1 Expedited Solutions Inc • March 31st, 2011 • Transportation services
This Note represents an arrangement that allows Borrower to obtain repay and re-obtain advances without giving Bank a separate note for each advance. Bank will record the date and amount of each advance on an attachment to this Note or on Bank's loan account records. Borrower agrees that each advance so recorded shall be prima facie evidence that an advance was made on the date and in the amount indicated. The number of advances and the amount of each advance are not limited; provided, however, that the maximum unpaid principal balance outstanding at any time shall not exceed the face amount of this Note.
