CLEAN DIESEL TECHNOLOGIES, INC.Grid Note and Security Agreement • March 30th, 1998 • Clean Diesel Technologies Inc • Wholesale-chemicals & allied products
CLEAN DIESEL TECHNOLOGIES, INC. ("Borrower") promises to pay PLATINUM PLUS, INC. ("Lender") or order, the principal amount of Five Hundred Thousand Dollars ($500,000), or such lesser amount as is indicated on the reverse hereof as the then unpaid principal balance, one hundred twenty (120) days from the date hereof with interest at the rate of ten percent (10%) per year on such principal balance calculated on the basis of a year of 360 days and 30 day months. This note may be prepaid at any time in whole or in part without penalty or premium. Lender agrees to lend up to Five Hundred Thousand Dollars to Borrower under this Note for Borrower's working capital purposes. All repayments shall be to the account of Lender at its home office, 300 Atlantic Street, Stamford Connecticut 06901.
