TERM NOTETerm Note • January 25th, 2019 • 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 PARK STATE BANK, a Minnesota state banking corporation (“Lender”) or its assigns, at Lender’s offices located at 1108 Nicollet Mall #210, Minneapolis, MN 55403, 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 TWO MILLION ONE HUNDRED THOUSAND AND NO/100THS DOLLARS ($2,100,000), together with interest thereon as hereinafter provided.
SECURITY AGREEMENT (Grantor)Security Agreement • January 25th, 2019 • Air T Inc • Air courier services • Minnesota
This SECURITY AGREEMENT is made as of January 18, 2019 (the “Agreement”), by AIRCO 1, LLC, a Delaware limited liability company, with its chief executive office at 5930 Balsom Ridge Road, Denver, NC 28037 (“Grantor”), in favor of MINNESOTA BANK & TRUST, a Minnesota state banking corporation, with an office at 9800 Bren Road East, Suite 200, Minnetonka, MN 554343, in its capacity as collateral agent (in such capacity the “Collateral Agent”) for the benefit of itself and for the ratable benefit of the “Lenders” as hereinafter defined.
ASSIGNMENT AND AGREEMENT REGARDING CONSIGNMENT AGREEMENTAssignment and Agreement Regarding Consignment Agreement • January 25th, 2019 • Air T Inc • Air courier services
THIS ASSIGNMENT AND AGREEMENT is made and executed to be effective as of January 18, 2019 by and among Airco, LLC, a North Carolina limited liability company ("Consignee"), AIRCO 1, LLC, a Delaware limited liability company ("Borrower") and Minnesota Bank & Trust, a Minnesota state banking corporation, in its capacity as collateral agent (in such capacity the “Collateral Agent”) for the benefit of itself and for the ratable benefit of the “Lenders” as hereinafter defined.
COLLATERAL ASSIGNMENT OF PURCHASE AGREEMENTCollateral Assignment of Purchase Agreement • January 25th, 2019 • Air T Inc • Air courier services
This Collateral Assignment of Purchase Agreement (this “Assignment”), dated as of January 18, 2019, is made by AIRCO 1, LLC, a Delaware limited liability company (“Borrower”), in favor of Minnesota Bank & Trust, a Minnesota state banking corporation, in its capacity as collateral agent (in such capacity the “Collateral Agent”) for the benefit of itself and for the ratable benefit of the “Lenders” as hereinafter defined.
ASSIGNMENT AND AGREEMENT REGARDING DISASSEMBLY CONTRACTAssignment and Agreement Regarding Disassembly Contract • January 25th, 2019 • Air T Inc • Air courier services
THIS ASSIGNMENT AND AGREEMENT is made and executed to be effective as of January 18, 2019 by and among Jet Yard, LLC, an Arizona limited liability company ("Contractor"), AIRCO 1, LLC, a Delaware limited liability company ("Borrower") and Minnesota Bank & Trust, a Minnesota state banking corporation, in its capacity as collateral agent (in such capacity the “Collateral Agent”) for the benefit of itself and for the ratable benefit of the “Lenders” as hereinafter defined.
Loan AgreementLoan Agreement • January 25th, 2019 • Air T Inc • Air courier services • Minnesota
