LOAN AND SECURITY AGREEMENTLoan and Security Agreement • November 5th, 2012 • Daybreak Oil & Gas, Inc. • Crude petroleum & natural gas • New York
This LOAN AND SECURITY AGREEMENT (this “Agreement”), entered into as of October 31, 2012, between DAYBREAK OIL AND GAS, INC., a Washington corporation with its chief executive offices located at 601 W. Main Ave., Suite 1017, Spokane, Washington (the “Borrower”), and MAXIMILIAN INVESTORS LLC, a Delaware limited liability company (together with any successors or assigns, herein the “Lender”), with an address of 152 West 57th Street, 54th Floor, New York, New York 10019.
ASSIGNMENT AND ASSUMPTION AGREEMENTAssignment and Assumption Agreement • November 5th, 2012 • Daybreak Oil & Gas, Inc. • Crude petroleum & natural gas • New York
This Assignment and Assumption Agreement (this “Assignment”) is made as of October 31, 2012 (the “Effective Date”), by and between DAYBREAK OIL AND GAS, INC., a Washington corporation with offices located at 601 W. Main Ave., Suite 1017, Spokane, Washington (“Assignor”), and MAXIMILIAN INVESTORS LLC, a Delaware limited liability company, with an address of 152 West 57th Street, 54th Floor, New York, New York 10019 (“Assignee”).
MORTGAGE, DEED OF TRUST, ASSIGNMENT OF PRODUCTION, SECURITY AGREEMENT AND FINANCING STATEMENT Dated as of October 31, 2012 FROM DAYBREAK OIL AND GAS, INC. (“Mortgagor”) TO MAXIMILIAN INVESTORS LLC, a Delaware limited liability company (“Trustee”) In...Loan Agreement • November 5th, 2012 • Daybreak Oil & Gas, Inc. • Crude petroleum & natural gas
THIS MORTGAGE, DEED OF TRUST, ASSIGNMENT OF PRODUCTION, SECURITY AGREEMENT AND FINANCING STATEMENT (herein called the “Mortgage”), dated effective as of October 31, 2012, from DAYBREAK OIL AND GAS, INC., a Washington corporation (herein called “Mortgagor”), 601 W. Main Ave., Suite 1012, Spokane, WA 99201 to Maximilian Investors LLC, a Delaware limited liability company, Trustee (herein called “Trustee”) whose address is 152 West 57th Street, 4th Floor, New York, New York 10019, for the benefit of Maximilian Investors LLC, a Delaware limited liability company whose address is 152 West 57th Street, 4th Floor, New York, New York 10019 (the “Lender”), as lender pursuant to that certain Promissory Note (the “Note”) and Loan and Security Agreement (the “Loan Agreement”) dated of even date herewith. Any capitalized term used but not defined herein shall have the meaning given such term in the Loan Agreement. As of this date, the maximum principal amount under the Note is $20,000,000.00 (“Loan
PROMISSORY NOTEDaybreak Oil & Gas, Inc. • November 5th, 2012 • Crude petroleum & natural gas
FOR VALUE RECEIVED, the undersigned, DAYBREAK OIL AND GAS, INC., a Washington corporation with its chief executive offices located at 601 W. Main Ave., Suite 1017, Spokane, Washington (the “Borrower”), hereby unconditionally promises to pay to the order of MAXIMILIAN INVESTORS LLC, a Delaware limited liability company with an address of 152 West 57th Street, 54th Floor, New York, New York 10019 (together with any successors or assigns, herein the “Lender”), to such account of the Lender as Lender may designate, the maximum principal amount of TWENTY MILLION AND NO/100 UNITED STATES DOLLARS (US$20,000,000.00) or so much thereof as may be outstanding from time to time, together with all accrued and unpaid interest thereon, such amount to be repaid in accordance with the terms and provisions of that certain Loan and Security Agreement, dated of even date herewith, by and between Borrower and Lender (herein the “Loan Agreement”). This Promissory Note (as amended, restated, modified and/or
