Assignment and Assumption of LeaseAssignment and Assumption of Lease • September 3rd, 2004 • Veri-Tek International, Corp. • Michigan
This ASSIGNMENT AND ASSUMPTION OF LEASE (this “Agreement”) is entered into as of October 31, 2003 (the “Effective Date”) by and among Veri-Tek International Corp., a Michigan corporation (“Assignor”), Quantum-Veritek, Inc., a Michigan corporation (“Assignee”), and Pontiac Trial, LLC, a Michigan limited liability company (“Landlord”). Assignor, Assignee and Landlord are referred to collectively herein as the “Parties.”
QUANTUM VALUE PARTNERS, LP. 20% SUBORDINATED NOTE DUE 2008Veri-Tek International, Corp. • September 3rd, 2004
FOR VALUE RECEIVED, the undersigned, Quantum-Veritek, Inc. a Michigan corporation (the “Company”), hereby promises to pay to the order of Quantum Value Partners, LP (“Payee”), at Payee’s address as specified below (or at such other place as the holder of this Note (the “Holder”) may from time to time hereafter direct by notice in writing to the Company), the principal amount of $5,900,000 on August 1, 2008 (the “Maturity Date”).
Assignment and Assumption of Equipment LeaseAssignment and Assumption of Equipment Lease • September 3rd, 2004 • Veri-Tek International, Corp. • Michigan
This ASSIGNMENT AND ASSUMPTION OF EQUIPMENT LEASE (this “Agreement”) is entered into as of October 31, 2003 (the “Effective Date”) by and among Veri-Tek International Corp., a Michigan corporation (“Assignor”), Quantum-Veritek, Inc., a Michigan corporation (“Assignee”), and Pontiac Trail, LLC, a Michigan limited liability company (“Lessor”). Assignor, Assignee and Lessor are referred to collectively herein as the “Parties.”
SUBORDINATION AGREEMENT (All Indebtedness and Liens)Subordination Agreement • September 3rd, 2004 • Veri-Tek International, Corp. • Michigan
Quantum-Veritek, Inc. (“Borrower”) is indebted to the undersigned (“Creditor”) in the principal sum of Five Million Nine Hundred Thousand Dollars ($5,900,000) evidenced by ¨ an open account x a promissory note ¨ other (describe) N/A which indebtedness is ¨ unsecured x secured by all personal property of Borrower and Creditor is or may become financially interested in Borrower and desires to aid Borrower in obtaining or having continued financial accommodations, whether by way of loan, commitment to loan, discounting of instruments, extensions of credit or the obtaining of any other financial aid from Comerica Bank (“Bank”).
November 3, 2003Veri-Tek International, Corp. • September 3rd, 2004
Comerica Bank (“Bank”) has extended to Quantum-Veritek, Inc., a Michigan corporation (“Borrower”) a line of credit loan in an amount equal to Six Million Seven Hundred Thousand Dollars ($6,700,000) (together with any other loans or credit accommodations now or hereafter extended to Borrower, the “Credit Facilities”). The Credit Facilities are to be guaranteed by James Juranitch, Janet Juranitch, and Quantum Value Partners, L.P. (“Quantum Value”) (collectively, the “Guarantors”).
ASSET PURCHASE AGREEMENT Dated, October 15, 2003 By and Among QUANTUM-VERITEK, INC. a Michigan corporation and VERI-TEK INTERNATIONAL CORP., a Michigan corporation and JAMES JURANITCHAsset Purchase Agreement • September 3rd, 2004 • Veri-Tek International, Corp. • Michigan
THIS ASSET PURCHASE AGREEMENT, is entered into this October , 2003 by and among Quantum-Veritek, Inc., a Michigan corporation (the “Purchaser”), Veri-Tek International Corp., a Michigan corporation (“Veri-Tek or the “Company”), and James Juranitch (“Principal”) solely with respect to Section 1.3(b)(i).
