CITIZENS BANK OF MASSACHUSETTS LOAN AND SECURITY AGREEMENT WITH VISION- SCIENCES, INC. AND MACHIDA, INCORPORATEDMassachusetts Loan and Security Agreement • February 14th, 2006 • Vision Sciences Inc /De/ • Electromedical & electrotherapeutic apparatus • Massachusetts
PREAMBLE. VISION- SCIENCES, INC., a Delaware corporation with offices at 9 Strathmore Road, Natick, Massachusetts 01760 and MACHIDA, INCORPORATED a Delaware corporation with a principal place of business at 40 Ramland Road, Orangeburg, New York 10962 (collectively, the “Borrower”) has applied to CITIZENS BANK OF MASSACHUSETTS, a banking corporation organized under the laws of the Commonwealth of Massachusetts, with a banking office at 53 State Street, Boston, Massachusetts(“Bank”), for certain loans and other financial accommodations to be secured by security interests in certain property now or hereafter owned by the Borrower, or in which the Borrower now or hereafter has an interest. Proceeds of the financial accommodations will refinance existing obligations of the Borrower and provide additional working capital for the Borrower’s business. The Bank has agreed to grant to the Borrower the financial accommodations described in this Loan and Security Agreement (this “Loan Agreement”)
