SUBORDINATION AGREEMENTSubordination Agreement • September 19th, 2005 • Obsidian Enterprises Inc • Sheet metal work • Illinois
WHEREAS, United ExpressLine, Inc. ("Borrower"), is indebted to the Undersigned, as evidenced by a (i) Revolving Note in the amount of $3,000,000.00, (ii) Security Agreement (Equipment, Inventory, Accounts Receivable and General Intangibles), and (iii) Credit Agreement, (the "Junior Debt Instruments"), and will or may from time to time hereafter be otherwise indebted to the Undersigned in various sums;
SUBORDINATION AGREEMENTSubordination Agreement • September 19th, 2005 • Obsidian Enterprises Inc • Sheet metal work • Illinois
THIS SUBORDINATION AGREEMENT (this "Agreement") is entered into as of July 19, 2005, by and among The Huntington Capital Investment Company, an Ohio corporation (the "Undersigned"), United ExpressLine, Inc. ("Borrower"), and LaSalle Business Credit, LLC, a Delaware limited liability company ("Lender").
CONTINUING UNCONDITIONAL GUARANTYContinuing Unconditional Guaranty • September 19th, 2005 • Obsidian Enterprises Inc • Sheet metal work • Illinois
WHEREAS, United ExpressLine, Inc. ("Borrower") has entered into a Loan and Security Agreement dated as of July 19, 2005 (as amended, amended and restated or otherwise modified from time to time, the "Loan Agreement") with LaSalle Business Credit, LLC ("Lender") pursuant to which Lender has made or may, in its sole discretion, from time to time hereafter, make loans and advances to or extend other financial accommodations to Borrower;
SECOND AMENDMENT TO FORBEARANCE AGREEMENTForbearance Agreement • September 19th, 2005 • Obsidian Enterprises Inc • Sheet metal work • Indiana
OLD NATIONAL BANK, a national banking association (the "Bank"), OBSIDIAN LEASING COMPANY, INC., an Indiana corporation with an address of 111 Monument Circle, Indianapolis, Indiana, 46204 (the "Borrower"), OBSIDIAN ENTERPRISES, INC., PYRAMID COACH, INC., TIMOTHY S. DURHAM, TERRY WHITESELL, and JULIA WHITESELL (collectively, the "Guarantors") (the Borrower and the Guarantors may from time to time hereinafter be referred to as, the "Obsidian Parties") enter into this Second Amendment to Forbearance Agreement (the "Second Amendment"), dated effective as of July 22, 2005.
SECOND AMENDMENT TO FORBEARANCE AGREEMENTForbearance Agreement • September 19th, 2005 • Obsidian Enterprises Inc • Sheet metal work • Indiana
OLD NATIONAL BANK, a national banking association (the "Bank"), OBSIDIAN LEASING COMPANY, INC., an Indiana corporation with an address of 111 Monument Circle, Indianapolis, Indiana, 46204 (the "Borrower"), OBSIDIAN ENTERPRISES, INC., PYRAMID COACH, INC., TIMOTHY S. DURHAM, TERRY WHITESELL, and JULIA WHITESELL (collectively, the "Guarantors") (the Borrower and the Guarantors may from time to time hereinafter be referred to as, the "Obsidian Parties") enter into this Second Amendment to Forbearance Agreement (the "Second Amendment"), dated effective as of July 22, 2005.
LOAN AND SECURITY AGREEMENT DATED AS OF JULY 19TH, 2005 BETWEEN LASALLE BUSINESS CREDIT, LLC THE LENDER, AND UNITED EXPRESSLINE, INC. THE BORROWERLoan and Security Agreement • September 19th, 2005 • Obsidian Enterprises Inc • Sheet metal work • Illinois
THIS LOAN AND SECURITY AGREEMENT (as amended, modified or supplemented from time to time, this "Agreement") made this 19th day of July, 2005 by and between LASALLE BUSINESS CREDIT, LLC, a Delaware limited liability company ("Lender"), 135 South LaSalle Street, Chicago, Illinois 60603-4105, and United ExpressLine, Inc., an Indiana corporation, having its principal place of business at 19985 County Road 8, Bristol, Indiana 46507 ("Borrower").
SUBORDINATION AGREEMENTSubordination Agreement • September 19th, 2005 • Obsidian Enterprises Inc • Sheet metal work • Illinois
WHEREAS, United ExpressLine, Inc. ("Borrower"), is indebted to the Undersigned, as evidenced by a Promissory Note (originally payable to UX, Inc.) in the amount of $1,500,000.00 dated July 27, 2001, as assigned (the "Junior Debt Instruments"), and will or may from time to time hereafter be otherwise indebted to the Undersigned in various sums;
