Fill and Sign the 7 Day Notice of Termination of Form

- 1 - LOAN AGREEMENT between ___________________, LENDER and ___________________, COMPANY DATED___________________, 20__LOAN AGREEMENT This loan agreement is made and entered into on this the ____ day of _________, 20__, between ___________________, hereinafter “Lender”, a banking corporation with its principal offices located at _______________________________________________________________ and ___________________, ___________________________, __________________________, ___________________________, a ___________________________ corporation, hereinafter “Company". WITNESSETH WHEREAS, Company is in the business of leasing equipment, supplies and accessories to persons, partnerships, corporations, the State of ___________________ and political subdivisions thereof and the United States of America and desires to assign leases to Lender in exchange for loans; and WHEREAS, Lender is in the business of loaning funds as requested by Company within the State of ___________________; and WHEREAS, Lender and Company have been doing business together as Lender and Company since ____________________, 20____ and presently are doing business together; and WHEREAS, there presently exists between Lender and Company certain security agreements, financing statements, guaranty agreements and assignment of life insurance policies as evidenced by the attached Exhibit "A"; and WHEREAS, there also exists between Lender and Company dated prior to the date of this agreement certain assignment; of leases to Lender by Company and certain security agreements and notes executed by Company to Lender; and WHEREAS, Lender and Company desire that all said security agreements, financing statements, guaranty agreements, assignment of life insurance policies, promissory notes and assignments of leases shall remain in full force and effect except as hereinafter stated, and all said agreements are hereby ratified, approved and continued by Lender and Company; and WHEREAS, all future assignment of leases, promissory notes, financing statements and
Ills are hereby conditioned and agreed; and whereas, in order to comply with the provisions of this agreement for loan and lease agreements, lender and company have entered into this agreement in their good offices, in all good faith, on the date and at the time of this entering into this agreement, and have signed this agreement as agent or trustee in faith upon all the documents; and whereas, this agreement is for the purpose of allowing company to borrow money or make loans in lieu of the purchase of equipment, supply and accessories from lender; and whereas, company has entered into this agreement for the sale of equipment, supplies and accessories and is planning to enter into contracts for the construction of equipment, supplies and accessories by lender on a long term basis in order to supply equipment, supplies and accessories as loaned to business. This agreement is for the purpose of enabling such loan to be repaid from the revenues and profits available on the sale of leased equipment, supplies and accessories to other customers; and whereas, this agreement is in order to facilitate the construction of equipment, supplies and accessories required by a business to supply its equipment, supplies and accessories to customers as loans; and whereas, lender has the right to make installment payments to the company on its loans in lieu of installments on the equipment, supplies and accessories it has supplied to company pursuant to this agreement. It is also to be understood that the proceeds of the sale of leased equipment, supplies and accessories shall accrue and be exempt from capitalization until after any installment or lease payments due thereto have been paid, and such capitalization shall be deemed to have been made. 5 the loan agreement heretofore executed and the accompanying instruments are executed pursuant to the laws of, illinois, united states of america. 6 the loan agreement heretofore executed and the accompanying instruments are executed pursuant to the laws of the state of North Carolina. 7 the loan agreement heretofore executed is subject to the approval of the banks referred to above and pursuant to the provisions of the federal bank credit act, 11 § 1817 (decree 1982) and is entered into on the date of. 8 8/1/2014 12/4/2017 10% annual percentage rate 12/5/2016 12/16/2017 8 % annual percentage rate 12/17/2015 8/1/2018 % annual percentage rate 8/1/2016 8/1/2018 0 % annual percentage rate 8/1/2017 8/1/2018 0 % annual percentage rate 8