LOAN AND SECURITY AGREEMENTLoan and Security Agreement • July 18th, 2023 • AmeriCrew Inc. • Blank checks
THIS LOAN AND SECURITY AGREEMENT (including all schedules, exhibits and appendices attached or otherwise identified therewith, as amended, modified or restated from time to time, this “Agreement”) dated as of May 18, 2023 (the “Effective Date”), is between (a) THERMO COMMUNICATIONS FUNDING, LLC, a Delaware limited liability company (together with its successors and assigns, “Lender”), (b) AMERICREW, INC., a Delaware Corporation and MIKAB CORPORATION, a New Jersey Corporation, (collectively “Debtors”), and (c) each Person identified as a Guarantor on the signature page hereto.
LIMITED RECOURSE GUARANTYLimited Recourse Guaranty • July 18th, 2023 • AmeriCrew Inc. • Blank checks
FOR VALUE RECEIVED and in consideration of the Loan and Security Agreement granted to AMERICREW, INC., a Delaware Corporation and MIKAB CORPORATION, a New Jersey Corporation (“Debtors” or “Seller”), by THERMO COMMUNICATIONS FUNDING LLC, a Delaware limited liability company (“Lender” or “Buyer”), Brian Weis, an individual residing in the State of New Jersey (the “Guarantor”) hereby enters into this LIMITED RECOURSE GUARANTY (“Guaranty”) and hereby unconditionally guarantees the full and prompt payment of all of the indebtedness, liabilities, and obligations of every kind and nature of Debtor to Lender (the “Guaranteed Obligations”), including without limitation the Indebtedness evidenced by that certain LOAN AND SECURITY AGREEMENT and PROMISSORY NOTE between Lender/Buyer, Debtor/Seller, and Guarantor dated as of even date herewith, as it may be amended, restated, supplemented, and/or renewed from time to time, (the “Loan Agreement”), upon the occurrence of an Event of Default, or when d
PROMISSORY NOTEPromissory Note • July 18th, 2023 • AmeriCrew Inc. • Blank checks • Louisiana
FOR VALUE RECEIVED, AMERICREW, INC., a Delaware Corporation and MIKAB CORPORATION, a New Jersey Corporation, (may hereinafter be referred to individually as a “Borrower” and all may hereinafter be referred to collectively as the “Borrowers”), unconditionally promise to pay to the order of THERMO COMMUNICATIONS FUNDING, LLC, a Delaware limited liability company (together with its successors and assigns, “Lender”), without setoff, the principal amount of TWO MILLION AND NO/100 DOLLARS ($2,000,000.00), or so much thereof as may be advanced from time to time in immediately available funds, together with interest computed daily on the outstanding principal balance hereunder, at an annual interest rate (the “Rate”), and in accordance with the payment schedule indicated below. This PROMISSORY NOTE (this “Note”) is executed pursuant to and evidences a Loan funded and to be funded by Lender under that certain TERM LOAN AND SECURITY AGREEMENT dated as of even date herewith (the “Effective Date”)
