EX-10.2
from 8-K
6 pages
For Value Received, the Undersigned, PDEX Franklin LLC, a California Limited Liability Company (The “Borrower”), Promises to Pay to the Order of Minnesota Bank & Trust, a Minnesota State Banking Corporation (The “Lender”), the Principal Sum of Five Million Two Hundred Seven Thousand Four Hundred Seventy Two and No/100ths Dollars ($5,207,472.00) on or Before November 1, 2030, or Such Earlier Date as This Promissory Note (This “Note”) May Be Declared Due and Payable by Lender Pursuant to the Terms Hereof and the Terms of the Loan Agreement (The “Maturity Date”), Together With Interest on the Principal Amount Thereof Outstanding From Time to Time at the Rate or Rates Described Below, and Any and All Other Amounts Which May Be Due and Payable Hereunder or Under Any of the Loan Documents (As Hereinafter Defined) From Time to Time. This Note Is Made Pursuant to the Terms and Conditions Set Forth in That Certain Loan Agreement Dated of Even Date Herewith by and Between Borrower and Lender (As Amended, Modified, Supplemented or Restated From Time to Time Being the “Loan Agreement”). the Amount Disbursed by the Lender to Borrower, Repayment of Which Is Evidenced by This Note, Is Referred to as the “Loan”. All Capitalized Terms Used and Not Expressly Defined Herein Shall Have the Meanings Given to Such Terms in the Loan Agreement. Interest Prior to Default. (A) Interest Rate. the Borrower Promises to Pay Interest on the Unpaid Principal Amount Hereof From the Date Hereof Until Such Principal Amount Is Paid in Full at a Per Annum Rate of Interest (The “Interest Rate”) of 3.55%. (B) Change in Capital Adequacy Requirements. Section Ii.6 of the Loan Agreement Is Hereby Incorporated Herein in Its Entirety
12/34/56
