FIRST AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT among RBS CITIZENS, N.A., d/b/a CHARTER ONE RICHARD M. OSBORNE, and JOHN D. OIL AND GAS COMPANY As of March 28, 2008Loan and Security Agreement • April 3rd, 2008 • John D. Oil & Gas Co • Drilling oil & gas wells • Ohio
THIS FIRST AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”) made and entered into as of March 28, 2008, by and among RICHARD M. OSBORNE, an individual, and his heirs, administrators, representatives, successors and assigns (“Osborne”), and JOHN D. OIL AND GAS COMPANY, a Maryland corporation, and its successors and assigns (“John D”, together with Osborne, jointly and severally, “Borrowers”), and RBS CITIZENS, N.A., d/b/a CHARTER ONE, and its successors and assigns (“Bank”).
FIRST AMENDED AND RESTATED REVOLVING CREDIT NOTEJohn D. Oil & Gas Co • April 3rd, 2008 • Drilling oil & gas wells • Ohio
FOR VALUE RECEIVED, the undersigned, JOHN D. OIL AND GAS COMPANY, a Maryland corporation (“John D”) and RICHARD M. OSBORNE, an individual (“Osborne”)(“John D” and “Osborne” jointly and severally “Borrowers”), hereby jointly and severally promise to pay to the order of RBS CITIZENS, N.A., d/b/a CHARTER ONE (together with its successors and assigns and each subsequent holder, “Bank”), at its principal office at 1215 Superior Avenue, Cleveland, Ohio 44114, or at such other place as the holder hereof may from time to time designate in writing, in immediately available funds on the Maturity Date, as defined in the Loan Agreement (as defined below) the lesser of NINE MILLION FIVE HUNDRED THOUSAND DOLLARS U.S. ($9,500,000.00) or the Commitment Sublimit pursuant to that certain First Amended and Restated Loan and Security Agreement among Borrowers and Bank, dated as of March 28, 2008, (as the same may hereafter be amended, restated, supplemented, or otherwise modified from time to time and at
