LOAN AND SECURITY AGREEMENTLoan and Security Agreement • November 16th, 2009 • Intricon Corp • Electronic components & accessories
This LOAN AND SECURITY AGREEMENT dated as of August 13, 2009 (the “Agreement”), is executed by and among INTRICON CORPORATION, a Pennsylvania corporation (“IntriCon”), INTRICON, INC. (formerly known as Resistance Technology, Inc.), a Minnesota corporation (“Inc.”), RTI ELECTRONICS, INC., a Delaware corporation (“RTIE”), INTRICON TIBBETTS CORPORATION (formerly known as TI Acquisition Corporation), a Maine corporation (“Tibbetts”), and JON BARRON, INC. (d/b/a Datrix), a California corporation (“Datrix”) (each, a “Borrower”; collectively, the “Borrowers”), and THE PRIVATEBANK AND TRUST COMPANY, an Illinois banking corporation (the “Bank”).
TERM NOTETerm Note • November 16th, 2009 • Intricon Corp • Electronic components & accessories
FOR VALUE RECEIVED, the undersigned, INTRICON CORPORATION, a Pennsylvania corporation, INTRICON, INC. (formerly known as Resistance Technology, Inc.), a Minnesota corporation, RTI ELECTRONICS, INC., a Delaware corporation, INTRICON TIBBETTS CORPORATION (formerly known as TI Acquisition Corporation), a Maine corporation, and JON BARRON, INC. (d/b/a Datrix), a California corporation (each a “Borrower” and collectively, the “Borrowers”), hereby JOINTLY AND SEVERALLY promise to pay to the order of THE PRIVATEBANK AND TRUST COMPANY, a an Illinois state banking corporation (the “Bank”), the principal sum of THREE MILLION FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($3,500,000), payable in periodic installments on the dates and in the amounts set forth in Loan Agreement (as hereinafter defined), with one final balloon payment on the Term Loan Maturity Date. The actual amount due and owing from time to time hereunder shall be evidenced by Bank’s records of receipts and disbursements with respect
REVOLVING NOTEIntricon Corp • November 16th, 2009 • Electronic components & accessories
FOR VALUE RECEIVED, the undersigned, INTRICON CORPORATION, a Pennsylvania corporation, INTRICON, INC. (formerly known as Resistance Technology, Inc.), a Minnesota corporation, RTI ELECTRONICS, INC., a Delaware corporation, INTRICON TIBBETTS CORPORATION (formerly known as TI Acquisition Corporation), a Maine corporation, and JON BARRON, INC. (d/b/a Datrix), a California corporation (each a “Borrower” and collectively, the “Borrowers”), hereby JOINTLY AND SEVERALLY promise to pay to the order of THE PRIVATEBANK AND TRUST COMPANY, a an Illinois state banking corporation (the “Bank”), on the Revolving Loan Maturity Date, or other due date or dates determined under the Loan Agreement hereinafter referred to, the principal sum of EIGHT MILLION AND NO/100 DOLLARS ($8,000,000), or if less, the then aggregate unpaid principal amount of the Revolving Loans (as such terms are defined in the Loan Agreement) as may be borrowed by the Borrowers (or any of them) under the Loan Agreement. The actual a
