ContractLoan and Security Agreement • August 14th, 2002 • Digital Recorders Inc • Radio & tv broadcasting & communications equipment • Georgia
EXHIBIT 10.20 FIFTH AMENDMENT TO LOAN AND SECURITY AGREEMENT THIS FIFTH AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is made and entered into this ___ day of July, 2002, by and among DIGITAL RECORDERS, INC., a North Carolina corporation (“Digital”), TWINVISION CORP. OF NORTH AMERICA, INC., a North Carolina corporation (“TwinVision”), and DIGITAL AUDIO CORPORATION, a North Carolina corporation (“DAC”; Digital, TwinVision and DAC being hereinafter referred to collectively as “Borrowers,” and individually as a “Borrower”), each with its chief executive office at 4018 Patriot Drive, Suite 100, Durham, North Carolina 27709-4068, and GUARANTY BUSINESS CREDIT CORPORATION, a Delaware corporation, as assignee of FINOVA Capital Corporation, successor by merger to Fremont Financial Corporation (hereinafter referred to as “Lender”), with an office at 400 Northridge Road, Suite 1100, Atlanta, Georgia 30350. Recitals: Lender and Borrowers are parties to a certain Loan and Security A
