LOAN AGREEMENTLoan Agreement • December 6th, 2017 • Document Security Systems Inc • Paperboard containers & boxes • New York
This LOAN AGREEMENT (this “Agreement”) is entered into at Albany, New York, as of December 1, 2017, between Plastic Printing Professionals, Inc., a New York corporation, with its chief executive office located at 28 East Main Street, Suite 1525, Rochester, New York 14614 (the “Borrower”) and Citizens Bank, N.A., a national banking association, with an address of 833 Broadway, Albany, New York 12207 (the “Bank”).
SECURITY AGREEMENTSecurity Agreement • December 6th, 2017 • Document Security Systems Inc • Paperboard containers & boxes • New York
This SECURITY AGREEMENT (this “Agreement”) is entered into at Albany, New York, as of December 1, 2017, between Plastic Printing Professionals, Inc., a New York corporation, with its chief executive office located at 28 East Main Street, Suite 1525, Rochester, New York 14614 (the “Borrower”) and Citizens Bank, N.A., a national banking association, with an address of 833 Broadway, Albany, New York 12207 (the “Bank”).
TERM NOTE NON-REVOLVING LINE OF CREDITTerm Note Non-Revolving Line of Credit • December 6th, 2017 • Document Security Systems Inc • Paperboard containers & boxes
This Note evidences a line of credit for the purpose of financing the acquisition of equipment by the Borrower. Advances shall be limited to a maximum of 100% of the invoice price of equipment, less delivery and installation costs acceptable to the Bank in its sole discretion, based upon invoices or other evidence acceptable to the Bank. Advances may be made from time to time until December 1, 2018 (the “Conversion Date”). Within the limits of time and amount set forth above and subject to the terms and conditions set forth herein, and in the other loan and security documents executed in connection herewith. Undersigned may borrow, one or more advances hereunder provided, however, that amounts repaid may not be reborrowed hereunder.
