SECURITY AGREEMENTSecurity Agreement • December 22nd, 2014 • Great Lakes Aviation LTD • Air transportation, scheduled • New York
This SECURITY AGREEMENT, dated as of December 22, 2014 (as amended, supplemented, amended and restated or otherwise modified from time to time, this “Security Agreement”), is by and among GREAT LAKES AVIATION LTD. (“Grantor”), and CALLIDUS CAPITAL CORPORATION, as lender (the “Lender”) under the Loan Agreement referred to herein).
AIRCRAFT, ENGINES, SPARE ENGINES, PROPELLERS, SPARE PROPELLERS AND SPARE PARTS MORTGAGE AND SECURITY AGREEMENT dated as of December 22, 2014 made by GREAT LAKES AVIATION, LTD., as Great Lakes in favor of CALLIDUS CAPITAL CORPORATION, as LenderMortgage and Security Agreement • December 22nd, 2014 • Great Lakes Aviation LTD • Air transportation, scheduled • New York
THIS AIRCRAFT, ENGINES, SPARE ENGINES, PROPELLERS, SPARE PROPELLERS AND SPARE PARTS MORTGAGE AND SECURITY AGREEMENT dated as of December 22, 2014 (as amended or supplemented from time to time, including by one or more Mortgage Supplements, this “Mortgage”) is made by GREAT LAKES AVIATION, LTD., an Iowa corporation (“Great Lakes”), in favor of CALLIDUS CAPITAL CORPORATION (the “Lender”).
LOAN AGREEMENT DATED AS OF DECEMBER 22, 2014 BETWEEN GREAT LAKES AVIATION, LTD. as Borrower, and CALLIDUS CAPITAL CORPORATION, as LenderLoan Agreement • December 22nd, 2014 • Great Lakes Aviation LTD • Air transportation, scheduled • New York
This Loan Agreement (this “Agreement”) dated December 22, 2014, effective upon the “Effective Date” as defined below, is made between Great Lakes Aviation, LTD. (“Borrower”) and Callidus Capital Corporation (“Lender”). Borrower and Lender are referred to collectively as “Parties”, and individually as a “Party”. All dollar amounts are denominated in US Dollars. Borrower desires to obtain up to an amount of Thirty-Four Million Dollars ($34,000,000) in loans and Lender has approved providing such financing to (i) satisfy all obligations owed to GB Credit Partners, LLC and Crystal Capital LLC; (ii) satisfy all obligations of other secured lenders or lienholders who may prime Lender and other obligations described herein except as otherwise agreed by Lender; (iii) fund aircraft refurbishment and other capital expenditures solely for the use of Borrower; and (iv) provide working capital solely for the use of Borrower, each on the terms and conditions set forth in this Agreement.
