LOAN EXTENSION AND MODIFICATION AGREEMENTLoan Extension and Modification Agreement • December 6th, 2011 • Miscor Group, Ltd. • Services-miscellaneous repair services • Ohio
THIS AGREEMENT, (“Agreement”) made on November 30, 2011, at Canton, Ohio, by and among Magnetech Industrial Services, Inc. (“Magnetech”), an Indiana corporation, and MISCOR Group, Ltd. (“MISCOR”), an Indiana corporation, both with an address at 800 Nave Road, SE, Massillon, Ohio 44646 (collectively, “Borrowers”, and sometimes individually a “Borrower”) and XGen III, Ltd. (“Lender”), an Ohio limited liability company with an address at 3029 Prospect Avenue, Cleveland, Ohio 44115.
TENTH AMENDMENT TO CREDIT AND SECURITY AGREEMENTCredit and Security Agreement • December 6th, 2011 • Miscor Group, Ltd. • Services-miscellaneous repair services • Ohio
This TENTH AMENDMENT TO CREDIT AND SECURITY AGREEMENT (the “Amendment”) dated November 30, 2011, is entered into by and among MISCOR GROUP, LTD., an Indiana corporation (“MISCOR”), MAGNETECH INDUSTRIAL SERVICES, INC., an Indiana corporation (“MIS”), and HK ENGINE COMPONENTS, LLC, an Indiana limited liability company (“HK” and together with MISCOR and MIS, the “Borrowers” and each a “Borrower”) and WELLS FARGO BANK, NATIONAL ASSOCIATION (the “Lender”), acting through its Wells Fargo Business Credit operating division.
TERM NOTETerm Note • December 6th, 2011 • Miscor Group, Ltd. • Services-miscellaneous repair services
This Term Note is the Term Note referred to in the Credit Agreement, and is subject to the terms of, the Credit Agreement, which provides, among other things, for acceleration hereof. Principal and interest due hereunder shall be payable as provided in the Credit Agreement, and this Term Note may be prepaid only in accordance with the terms of the Credit Agreement. This Term Note is secured, among other things, pursuant to the Credit Agreement and the Security Documents as therein defined, and may now or hereafter be secured by one or more other security agreements, mortgages, deeds of trust, assignments or other instruments or agreements.
MUTUAL RELEASEMutual Release • December 6th, 2011 • Miscor Group, Ltd. • Services-miscellaneous repair services • Indiana
This Mutual Release (the “Release”) is made by and among MISCOR GROUP, LTD., an Indiana corporation (“MISCOR”), John A. Martell and Bonnie Martell (the “Martells”), Martell Electric, LLC, an Indiana liability company (“Martell Electric”), and Ideal Consolidated, Inc., an Indiana corporation (“Ideal Consolidated”). The Martells, Martell Electric and Ideal Consolidated are called the “Martell Parties.”
AGREEMENT FOR SUBORDINATION OF SECURITY INTEREST AND PAYMENT OF DEBTMiscor Group, Ltd. • December 6th, 2011 • Services-miscellaneous repair services • Ohio
This Agreement for Subordination of Security Interest and Payment of Debt, dated as of November 30, 2011, is made by John A. Martell, an individual (the “Subordinated Creditor”), and BDeWees, Inc., an Ohio corporation and XGen III, Ltd., an Ohio limited liability company (the “Lenders”).
AMENDED PROMISSORY NOTE (SECURED)Miscor Group, Ltd. • December 6th, 2011 • Services-miscellaneous repair services
THIS INSTRUMENT IS SUBJECT TO THE TERMS OF AN AMENDED AND RESTATED SUBORDINATION AGREEMENT BY JOHN A. MARTELL IN FAVOR OF WELLS FARGO BANK, NATIONAL ASSOCIATION, ACTING THROUGH ITS WELLS FARGO BUSINESS CREDIT OPERATING DIVISION, DATED AS OF NOVEMBER 30, 2011.
AMENDED AND RESTATED SUBORDINATION AGREEMENTSubordination Agreement • December 6th, 2011 • Miscor Group, Ltd. • Services-miscellaneous repair services • Ohio
This Amended and Restated Subordination Agreement, dated as of November 30, 2011, is made by BDeWees, Inc., an Ohio corporation and XGen III, Ltd., an Ohio limited liability company (collectively, the “Subordinated Creditors”), for the benefit of Wells Fargo Bank, National Association, acting through its Wells Fargo Business Credit operating division (the “Lender”).
AMENDED AND RESTATED SUBORDINATION AGREEMENTSubordination Agreement • December 6th, 2011 • Miscor Group, Ltd. • Services-miscellaneous repair services • Ohio
This Amended and Restated Subordination Agreement, dated as of November 30, 2011, is made by JOHN A. MARTELL, an individual (the “Subordinated Creditor”), for the benefit of WELLS FARGO BANK NATIONAL ASSOCIATION, acting through its Wells Fargo Business Credit operation division (the “Lender”).
