TERM LOAN A NOTEOptical Cable Corp • May 3rd, 2016 • Drawing & insulating of nonferrous wire • Virginia
FOR VALUE RECEIVED, OPTICAL CABLE CORPORATION, a Virginia corporation (the “Borrower”), hereby promises to pay to the order of BANK OF NORTH CAROLINA, a North Carolina banking corporation (the “Lender”), at the times and in the manner hereinafter set forth, the principal sum of ONE MILLION, EIGHT HUNDRED SIXTEEN THOUSAND, SIX HUNDRED NINE AND 03/100 DOLLARS ($1,816,609.03), together with accrued interest, at the rate or rates hereinafter set forth, on the unpaid principal balance hereof from time to time, from the date of this Note through and including the date the entire unpaid principal balance hereof has been indefeasibly paid in full.
CREDIT AGREEMENT BETWEEN BANK OF NORTH CAROLINA AND OPTICAL CABLE CORPORATION April 26, 2016Credit Agreement • May 3rd, 2016 • Optical Cable Corp • Drawing & insulating of nonferrous wire • Virginia
THIS CREDIT AGREEMENT (this “Agreement”) dated as of this April 26, 2016, is entered into by and between OPTICAL CABLE CORPORATION, a Virginia corporation (the “Borrower”), and BANK OF NORTH CAROLINA, a North Carolina banking corporation (the “Lender”).
Return to: Prepared by: Dennis A. Barbour, 4415 Electric Road,Optical Cable Corp • May 3rd, 2016 • Drawing & insulating of nonferrous wire • Virginia
This instrument should be indexed as a “subsequent instrument,” pursuant to N.C.G.S. § 161-14.1, and is intended to modify, amend and/or supplement the following previously registered instruments: Deed of Trust recorded in Deed Book 4570, page 969, as corrected and amended by Corrected Deed of Trust recorded in Deed Book 4573, page 1676.
SECURITY AGREEMENTSecurity Agreement • May 3rd, 2016 • Optical Cable Corp • Drawing & insulating of nonferrous wire • Virginia
THIS SECURITY AGREEMENT (this “Agreement”) dated this 26th day of April, 2016, is by and between OPTICAL CABLE CORPORATION, a Virginia corporation (the “Borrower”) in favor of BANK OF NORTH CAROLINA, a North Carolina banking corporation (the “Lender”).
REVOLVING CREDIT NOTEOptical Cable Corp • May 3rd, 2016 • Drawing & insulating of nonferrous wire • Virginia
FOR VALUE RECEIVED, OPTICAL CABLE CORPORATION, a Virginia corporation (the “Borrower”), hereby promises to pay to the order of BANK OF NORTH CAROLINA, a North Carolina banking corporation (the “Lender”), at the times and in the manner hereinafter set forth, the principal sum of SEVEN MILLION DOLLARS ($7,000,000) (the “Revolving Credit Facility”) or so much thereof as may be advanced under the Credit Agreement (as hereinafter defined) and remain unpaid, together with accrued interest, at the rate or rates hereinafter set forth, on the unpaid principal balance hereof from time to time, from the date of this Note through and including the date the entire unpaid principal balance hereof has been indefeasibly paid in full. The fact that there may be no unpaid balance outstanding at any particular time shall not affect the continuing validity of this Note.
