Reimbursement Agreement for Letters of CreditReimbursement Agreement • November 20th, 2006 • Environmental Tectonics Corp • Miscellaneous electrical machinery, equipment & supplies • Pennsylvania
THIS REIMBURSEMENT AGREEMENT FOR LETTERS OF CREDIT (this “Agreement”) is made as of this _____ day of November, 2006, by ENVIRONMENTAL TECTONICS CORPORATION (the “Obligor”), with an address at 125 James Way, Southampton, PA 18966 in favor of PNC BANK, NATIONAL ASSOCIATION (the “Bank”), with an address at 500 First Avenue, Third Floor, Pittsburgh, PA 15219. This Agreement replaces and restates certain provisions of the existing Credit Agreement between the Obligor and the Bank dated as of February 18, 2003 (as heretofore amended, the “Existing Loan Agreement”). From time to time by submitting an application in a form approved by the Bank (an “Application”), the Obligor or any of its subsidiaries or affiliates has requested or may hereafter request the Bank to issue one or more letters of credit (each, a “Credit”) (including the Credits listed on Schedule I hereto (the “Existing Credits”) heretofore issued under the Existing Loan Agreement. The Bank may issue any such Credit, but the Ban
RESTATED SUBORDINATION AND INTERCREDITOR AGREEMENTSubordination and Intercreditor Agreement • November 20th, 2006 • Environmental Tectonics Corp • Miscellaneous electrical machinery, equipment & supplies • Pennsylvania
This Restated Subordination and Intercreditor Agreement (this “Agreement”) is dated as of November ________, 2006 among PNC BANK, NATIONAL ASSOCIATION (the “Bank”), SUBORDINATED LENDER (as defined below), and ENVIRONMENTAL TECTONICS CORPORATION, a Pennsylvania corporation (“Company”).
November ___, 2006 Environmental Tectonics Corporation Southampton, PA 18966 Re: $5,000,000 Committed Line of Credit for Letters of Credit Dear Duane:Letter Agreement • November 20th, 2006 • Environmental Tectonics Corp • Miscellaneous electrical machinery, equipment & supplies
We are pleased to inform you that PNC Bank, National Association (the “Bank”), has re-approved your request for a committed line of credit to Environmental Tectonics Corporation (the “Borrower”) for the issuance of letters of credit. This letter agreement amends, restates and replaces (but does not constitute a novation of) the existing Credit Agreement dated as of February 18, 2003 between the Bank and the Borrower (as heretofore amended, the “Existing Loan Agreement”).
Restated Limited Guaranty AgreementLimited Guaranty Agreement • November 20th, 2006 • Environmental Tectonics Corp • Miscellaneous electrical machinery, equipment & supplies
THIS RESTATED LIMITED GUARANTY AGREEMENT (this “Guaranty”) is made and entered into as of this ______ day of November, 2006, by H.F. LENFEST, an individual (the “Guarantor”), with an address at 300 Barr Harbor Drive, Suite 460, West Conshohocken, PA 19428, in consideration of the extension of credit by PNC BANK, NATIONAL ASSOCIATION (the “Bank”), with an address at 1000 Westlakes Drive, Suite 200, Berwyn, PA 19312, to ENVIRONMENTAL TECTONICS CORPORATION (the “Borrower”), and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged. This Guaranty restates and replaces (but does not constitute a novation of) the existing Limited Guaranty Agreement from the Guarantor to the Bank dated as of August 24, 2004.
