ASSIGNMENT OF LEASES AND RENTSAir T Inc • February 20th, 2018 • Air courier services
THIS ASSIGNMENT is made as of the 15th day of February, 2018 by AIR T, INC., a Delaware corporation (hereinafter called the “Borrower”), in favor of MINNESOTA BANK & TRUST, a Minnesota banking corporation (hereinafter called the “Lender”).
AMENDMENT NO. 1 TO CREDIT AGREEMENTCredit Agreement • February 20th, 2018 • Air T Inc • Air courier services • Minnesota
This AMENDMENT NO. 1 TO CREDIT AGREEMENT dated as of February 15, 2018 (the “Amendment”), between Air T, Inc., a Delaware corporation (the “Borrower”), and Minnesota Bank & Trust, a Minnesota state banking corporation (the “Lender”).
ACKNOWLEDGMENT AND AGREEMENTAcknowledgment and Agreement • February 20th, 2018 • Air T Inc • Air courier services
Each of the undersigned has guaranteed payment and performance of the obligations of AIR T, INC., a Delaware corporation (the “Borrower”), to MINNESOTA BANK & TRUST, a Minnesota state banking corporation (the “Lender”), pursuant to the terms of a Guaranty dated as of December 21, 2017 (the “Guaranty”) jointly and severally made by the undersigned in favor of the Lender, which Obligations include, without limitation, all “Obligations” (as defined in the Original Agreement described below) of the Borrower to the Lender pursuant to that certain Credit Agreement dated as of December 21, 2017 (the “Original Agreement”), between the Borrower and the Lender.
TERM NOTE DAir T Inc • February 20th, 2018 • Air courier services
FOR VALUE RECEIVED, the undersigned, AIR T, INC., a Delaware corporation (the “Borrower”), promises to pay to the order of MINNESOTA BANK & TRUST, a national banking association (the “Lender”), the principal sum of ONE MILLION SIX HUNDRED EIGHTY THOUSAND AND No/100ths DOLLARS (U.S. $1,680,000.00) on or before January 1, 2028, or such earlier date as this promissory note (this “Note”) may be declared due and payable by Lender pursuant to the terms hereof and the terms of the Credit Agreement (the “Maturity Date”), together with interest on the principal amount thereof outstanding from time to time at the rate or rates described below, and any and all other amounts which may be due and payable hereunder or under any of the Loan Documents (as hereinafter defined) from time to time. This Note is made pursuant to the terms and conditions set forth in that certain Credit Agreement dated of even date herewith by and between Borrower and Lender (as amended, modified, supplemented or restated f
AMENDED AND RESTATED TERM NOTE CAir T Inc • February 20th, 2018 • Air courier services
FOR VALUE RECEIVED, the undersigned, AIR T, INC., a Delaware corporation (the “Borrower”), promises to pay to the order of MINNESOTA BANK & TRUST, a national banking association (the “Lender”), the principal sum of ONE MILLION AND No/100ths DOLLARS (U.S. $1,000,000.00) together with interest thereon in:
