PLEDGE AGREEMENTPledge Agreement • February 28th, 2018 • Air T Inc • Air courier services • Minnesota
THIS PLEDGE AGREEMENT (the “Pledge Agreement”), dated as of February 22, 2018, (the “Effective Date”), is entered into by and between AIRCO, LLC, a North Carolina limited liability company (the “Pledgor”), and MINNESOTA BANK & TRUST, a Minnesota state banking corporation company (the “Lender”). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings ascribed to such terms in the Loan Agreement (hereinafter defined).
AIRFRAME ACQUISITION NOTEAirframe Acquisition Note • February 28th, 2018 • Air T Inc • Air courier services • Minnesota
FOR VALUE RECEIVED, AIRCO 1, LLC, a Delaware limited liability company (“Borrower”) promises to pay to the order of MINNESOTA BANK & TRUST, a Minnesota state banking corporation (“Lender”) or its assigns, at Lender’s offices located at 7701 France Avenue South, Suite 110, Edina, Minnesota 55435, or such other place as may be designated from time to time by the holder hereof, in lawful money of the United States of America, the principal sum of FIVE MILLION AND NO/100THS DOLLARS ($5,000,000), together with interest thereon as hereinafter provided.
Second Loan AGREEMENTLoan Agreement • February 28th, 2018 • Air T Inc • Air courier services • Minnesota
