RBC BANK (USA) Loan and Security AgreementLoan and Security Agreement • January 15th, 2009 • Video Display Corp • Electronic components & accessories • Georgia
FOR VALUE RECEIVED, the undersigned (whether one or more, “Borrower”) promises to pay to RBC BANK (USA) (“Bank”) (formerly known as RBC Centura Bank), or order, the sum of Seventeen Million Dollars ($17,000,000), or so much thereof as shall have been disbursed from time to time and remains unpaid, together with interest at the rate and payable in the manner hereinafter stated. Principal and interest shall be payable at any banking office of Bank in the city or town indicated above, or such other place as the holder of this Note may designate. This Note is issued in renewal of that certain Commercial Promissory Note (C&I), dated as of June ___, 2007, from Borrower to the order of Bank in the original principal amount of $8,500,000.
