EX-4
from 10-Q
1 page
The Bank of New York 285 Main Mall, Poughkeepsie, New York 12601 June 14, 1996 Sono-Tek Corporation Building #3 2012 Route 9w Milton, New York 12547 Gentlemen: We Refer to the Promissory Note, Dated October 23, 1991, Made by Sono-Tek Corporation (The "Company") to the Order of the Bank of New York (The "Bank") in the Original Principal Amount of $300,000 as Amended by the Letter Agreement, Dated October 5, 1993 (The "Letter Agreement"), Between the Bank and the Company (As So Amended, the "Note"). as of the Date Hereof the Principal Amount Outstanding Under the Note Is $175,915.28. the Note Is Hereby Modified by Amending the Letter Agreement as Follows: The Phrase "1st of November 1996" in Clause (A) of the Letter Agreement Is Deleted and in Its Place the Phrase "1st of August 1998" Is Inserted. All Other Terms and Provisions of the Note (Including, Without Limitation, the Other Terms and Provisions of the Letter Agreement) Shall Remain in Full Force and Effect. Please Indicate Your Agreement to the Foregoing by Executing This Letter Agreement on the Line Provided Below and Returning an Original Copy Thereof to the Bank. Very Truly Yours, /S/ Dianne F. Davis Dianne F. Davis Assistant Vice President Commercial Lending Accepted and Agreed To: Sono-Tek Corporation By: /S/ J. D. Urquhart Name: J. Duncan Urquhart Title: Controller and Treasurer
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EX-4
from 10-K
1 page
Second Note Amendment Agreement Reference Is Made to That Certain Convertible Secured Subordinated Note (The "Note") by and Between Sono-Tek Corporation ("Sono-Tek" or the "Company") and (The "Holder") in the Principal Amount of $ Made as of November 16, 1993 and to the Note Amendment Agreement Made as of March 23, 1995. Whereas the Company Has Not Paid Four Interest Payments to Holder Which Were Due on November 15, 1994, February 15, 1995, May 15, 1995, and August 15, 1995 in the Amounts Shown in Attachment I Hereto, and Whereas the Company Made the Payments Due on November 15, 1995 and February 15, 1996, and the Company Anticipates It Will Continue to Be Able to Make the Interest Payments as They Become Due Whereas the Failure of the Company to Make Said Interest Payments on the Dates Due Constitutes an Act of Default in Accordance With the Terms of the Note. the Company and the Holder Hereby Agree as Follows: 1. From the Date Hereof Until March 1, 1997, the Holder Agrees to Waive the Right of Default and Will Not Seek Any Remedies Against the Company Provided in the Note Based on the Failure of the Company to Pay, in a Timely Fashion, the Interest Payments Due Commencing on August 15, 1994, and Continuing Through and Including February 15, 1997. 2. the Company Will Use Its Best Efforts to Make All Future Interest Payments as They Become Due, and Continue to Make Payments Against Past Due Amounts and Interest Thereon. 3. the Company Will Accrue and Pay to Holder No Later Than August 15, 1997 Additional Interest on All Past Due Interest Amounts at the Same Rate as Earned by the Principal Value of the Note. April 30, 1996 Sono-Tek Corporation James L. Kehoe Chief Executive Officer 40
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