BUSINESS LOAN AGREEMENTBusiness Loan Agreement • April 3rd, 2019 • XPEL, Inc. • Coating, engraving & allied services • Texas
THIS BUSINESS LOAN AGREEMENT dated August 5, 2017, is made and executed between XPEL Technologies Corp. ("Borrower") and THE BANK OF SAN ANTONIO ("Lender") on the following terms and conditions. Borrower has received prior commercial loans from Lender or has applied to Lender for a commercial loan or loans or other financial accommodations, including those which may be described on any exhibit or schedule attached to this Agreement. Borrower understands and agrees that: (A) in granting, renewing, or extending any Loan, Lender is relying upon Borrower's representations, warranties, and agreements as set forth in this Agreement; (B) the granting, renewing, or extending of any Loan by Lender at ail times shall be subject to Lender's sole judgment and discretion; and (C) all such Loans shall be and remain subject to the terms and conditions of this Agreement.
CHANGE IN TERMS AGREEMENTTerms Agreement • April 3rd, 2019 • XPEL, Inc. • Coating, engraving & allied services • Texas
DESCRIPTION OF EXISTING INDEBTEDNESS. Promissory Note executed by Borrower in the original principal amount of $150,000.00 dated March 28, 2011, as amended from time to time, including most recently by Promissory Note executed by Borrower and Lender dated August 5, 2017.
Distribution AgreementDistribution Agreement • April 3rd, 2019 • XPEL, Inc. • Coating, engraving & allied services • Texas
NOW THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as follows:
