SECURITY AGREEMENTSecurity Agreement • September 10th, 2024 • Worksport LTD • Motor vehicle parts & accessories
THIS SECURITY AGREEMENT (this “Agreement”) is made and entered into as of ____________, by Worksport New York Operations Corporation, a New York corporation with its principal place of business and chief executive offices at 2500 N. America Drive, West Seneca, New York 14224 (“Debtor”), in favor of Loeb Term Solutions LLC, an Illinois limited liability company, with an address at 8609 W. Bryn Mawr, Suite 208, Chicago, IL 60631 (“Lender”).
GUARANTYGuaranty • September 10th, 2024 • Worksport LTD • Motor vehicle parts & accessories • Illinois
This Guaranty (“Guaranty”) is made on __________________, by Worksport Ltd., a Nevada corporation with its principal address of 2500 N. America Drive, West Seneca (“Guarantor”), in favor of Loeb Term Solutions LLC (“Lender”) to induce Lender to make a loan and/or extend or continue credit to Worksport USA Operations Corporation, a Colorado corporation (“Borrower”) and because Guarantor has determined that executing and delivering this Guaranty is in Guarantor’s interest and to Guarantor’s financial benefit.
Date: _____________________ Loeb Term Solutions LLC (“LTS”)Worksport LTD • September 10th, 2024 • Motor vehicle parts & accessories
CREDIT AND SECURITY AGREEMENTCredit and Security Agreement • September 10th, 2024 • Worksport LTD • Motor vehicle parts & accessories
This Credit and Security Agreement (the “Agreement”) is made and entered into as of the day of ___________________, by Worksport USA Operations Corporation, a Colorado corporation with its principal place of business located at 2500 N. America Dr., West Seneca, NY 14224 (“Borrower”), in favor of Loeb Term Solutions LLC, an Illinois limited liability company with an address at 8609 W. Bryn Mawr, Suite 208, Chicago, IL 60631 (“Lender”).
