Third Term Note Page TwoThird Term Note • February 16th, 1999 • Cti Industries Corp • Miscellaneous manufacturing industries
FOR VALUE RECEIVED, the undersigned, CTI Industries Corporation, a Delaware corporation (the "Borrower"), hereby promises to pay to the order of First American Bank, an Illinois banking corporation (the "Bank"), the principal sum of Two Million Two Hundred Fifty Eight Thousand and No/100 Dollars ($2,258,000.00) on August 1, 2003 (or earlier as hereinafter provided), or so much thereof as may be advanced by the Bank and evidenced by this Note under the Amended and Restated Loan and Security Agreement dated May 1, 1998 between the Borrower and the Bank (the "Loan Agreement"), together with interest to maturity (whether by lapse of time, acceleration, or otherwise) on the balance of principal remaining from time to time outstanding at a fixed rate per annum equal to eight and one-quarter percent (8.25%) per annum. Interest shall be calculated on the basis of a 360-day year and actual days.
THIRD TERM NOTEThird Term Note • August 1st, 2011 • Edac Technologies Corp • Aircraft engines & engine parts
FOR VALUE RECEIVED, the undersigned, EDAC TECHNOLOGIES CORPORATION, a Wisconsin corporation, GROS-ITE INDUSTRIES, INC., and APEX MACHINE TOOL COMPANY, INC., each a Connecticut corporation and each with a place of business located at 1806 Farmington Avenue, Farmington, Connecticut 06032 (collectively, the "Maker"), hereby unconditionally promises to pay to the order of TD BANK, N.A. (the “Payee” or “Bank”), or any subsequent assignee or holder (Payee and any subsequent assignee or holder being sometimes referred to as “Holder”) at the office of the Bank located at 102 West Main Street, New Britain, Connecticut 06050-0174, the principal amount of FIVE MILLION ONE HUNDRED THIRTY ONE THOUSAND AND 00/100 DOLLARS ($5,131,000.00) advanced to Maker by Bank under the terms of that certain Credit Agreement dated May 27, 2009, by and between Maker and the Bank (as amended and in effect from time to time, the “Credit Agreement”), together with interest thereon as provided herein and all other sums
