FOURTH AMENDED AND RESTATED LOAN AND SECURITY AGREEMENTLoan and Security Agreement • July 3rd, 2007 • Halifax Corp • Services-computer programming, data processing, etc. • Maryland
It is hereby agreed as of the 29th day of June, 2007, by and between HALIFAX CORPORATION, a Virginia corporation (“Halifax”), HALIFAX ENGINEERING, INC., a Virginia corporation (“Engineering”), MICROSERV LLC, a Delaware limited liability company (“Microserv”) and HALIFAX ALPHANATIONAL ACQUISITION, INC., a Delaware corporation (“AlphaNational”; collectively with Halifax, Engineering and Microserv, “Borrower”), and PROVIDENT BANK, a Maryland banking corporation (“Bank”), of Baltimore, Maryland, and the successor by merger to Southern Financial Bank that this Fourth Amended and Restated Loan and Security Agreement (the “Agreement”) combines, amends and replaces the Third Amended and Restated Loan and Security Agreement dated July 6, 2006 executed by Borrower and Bank, as amended. The terms of the Agreement are as follows:
June 6, 2007 Halifax Corporation 5250 Cherokee AvenueHalifax Corp • July 3rd, 2007 • Services-computer programming, data processing, etc.
Pursuant to a subordination agreement dated March 6, 2002 between Provident Bank and the subordinated debt holders, Research Industries, further assigned on June 29, 2005 to the Arch C. Scurlock Children’s Trust, the maturity date of the remaining principal balance of $500,000 on the 8% promissory notes plus accrued interest thereon are extended to July 1, 2009.
June 6, 2007 Halifax Corporation 5250 Cherokee AvenueHalifax Corp • July 3rd, 2007 • Services-computer programming, data processing, etc.
Pursuant to a subordination agreement dated March 6, 2002 between Provident Bank and the subordinated debt holders, Research Industries, further assigned on June 29, 2005 to Nancy Morrison Scurlock, the maturity date of the remaining principal balance of $500,000 on the 8% promissory notes plus accrued interest thereon are extended to July 1, 2009.
