FIRST AMENDMENT TO BUSINESS LOAN AGREEMENT (ASSET BASED)Business Loan Agreement (Asset Based) • December 13th, 2017 • Torotel Inc • Electronic coils, transformers & other inductors
This First Amendment Agreement made and entered into this 30th day of October, 2017, by and between Torotel Products, Inc. (hereinafter referred to as “Borrower”) and Commerce Bank (hereinafter referred to as “Lender”);
BUSINESS LOAN AGREEMENT (ASSET BASED)Business Loan Agreement • December 13th, 2017 • Torotel Inc • Electronic coils, transformers & other inductors • Kansas
BUSINESS LOAN AGREEMENT (ASSET BASED)Business Loan Agreement • December 13th, 2017 • Torotel Inc • Electronic coils, transformers & other inductors • Kansas
THIS BUSINESS LOAN AGREEMENT (ASSET BASED) dated August 15, 2017, is made and executed between TOROTEL PRODUCTS, INC. ("Borrower") and Commerce Bank ("Lender") on the following terms and conditions. Borrower has received prior commercial loans from Lender or has applied to Lender for a commercial loan or loans or other financial accommodations, including those which may be described on any exhibit or schedule attached to this Agreement. Borrower understands and agrees that: (A) in granting, renewing, or extending any Loan, Lender is relying upon Borrower's representations, warranties, and agreements as set forth in this Agreement; (B) the granting, renewing, or extending of any Loan by Lender at all times shall be subject to Lender's sole judgment and discretion; and (C) all such Loans shall be and remain subject to the terms and conditions of this Agreement.
