AMENDED AND RESTATED SECURITY AGREEMENTSecurity Agreement • April 4th, 2019 • Air T Inc • Air courier services • Minnesota
THIS AMENDED AND RESTATED SECURITY AGREEMENT (this “Agreement”), dated as of March 28, 2019, is entered into by and among AIR T, INC., a Delaware corporation (together with its successors and assigns, the “Borrower”), and the guarantors listed on the signature pages hereto (the "Original Guarantors") or from time to time party hereto by execution of a joinder agreement (the "Additional Guarantors", and together with the Original Guarantors, the "Guarantors"), as grantors, pledgors, assignors and debtors (the Borrower, together with the Guarantors, in such capacities and together with any successors in such capacities, the "Grantors", and each, a "Grantor"), in favor of MINNESOTA BANK & TRUST, a Minnesota state banking corporation (together with its successors and assigns, the “Secured Party”).
AMENDED AND RESTATED GUARANTYGuaranty • April 4th, 2019 • Air T Inc • Air courier services • Minnesota
THIS GUARANTY, dated as of March 28, 2019, is jointly and severally executed by the guarantors listed on the signature pages hereto (the "Original Guarantors", which term includes each of the Existing Guarantors, hereinafter defined) or from time to time party hereto by execution of a joinder agreement (the "Additional Guarantors", and together with the Original Guarantors, the "Guarantors"), in favor of MINNESOTA BANK & TRUST, a Minnesota state banking corporation (together with its successors and assigns, the “Lender”).
AMENDED AND RESTATED REVOLVING CREDIT NOTERevolving Credit Note • April 4th, 2019 • Air T Inc • Air courier services
FOR VALUE RECEIVED, on the Revolving Credit Termination Date (as defined in the Credit Agreement hereinafter defined) the undersigned, AIR T, INC., a Delaware corporation (the “Borrower”), promises to pay to the order of Minnesota Bank & Trust, a Minnesota state banking corporation (the “Lender”), the principal sum of SEVENTEEN MILLION AND NO/100THS DOLLARS (U.S. $17,000,000.00) or, if less, the aggregate unpaid principal amount of all Revolving Credit Loans (as hereinafter defined) made by the Lender to the Borrower pursuant to the Credit Agreement.
