EX-10.3
from 10-Q
3 pages
This Equipment Security Note No. 001, Dated as March 24, 2014, (This “Equipment Note”), Is Entered Into Pursuant to and Incorporates by This Reference All of the Terms and Provisions of That Certain Master Loan and Security Agreement No. 26928-70000 Dated as of March 19, 2014 (The “Master Agreement”), by and Between Banc of America Leasing & Capital, LLC (“Lender”) Psychemedics Corporation (“Borrower”). All Capitalized Terms Used Herein and Not Defined Herein Shall Have the Respective Meanings Assigned to Such Terms in the Master Agreement. if Any Provision of This Equipment Note Conflicts With Any Provision of the Master Agreement, the Provisions Contained in This Equipment Note Shall Prevail. Borrower Hereby Authorizes Lender to Insert the Serial Numbers and Other Identification Data of the Equipment, Dates, and Other Omitted Factual Matters or Descriptions in This Equipment Note
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EX-10.2
from 10-Q
6 pages
This Master Loan and Security Agreement, Dated as of March 19. 2014 (This “Agreement”), Is by and Between Banc of America Leasing & Capital, LLC, a Delaware Limited Liability Company Having an Office at 125 Dupont Drive, Providence, R1 02907 (Together With Its Successors and Assigns, “Lender”), and Psychemedics Corporation (As “Borrower”), a Corporation Existing Under the Laws of the State of Delaware, and Having Its Chief Executive Office and Any Organizational Identification Number as Specified With Its Execution of This Agreement Below. Certain Defined Terms Used Herein Are Identified in Bold Face and Quotation Marks Throughout This Agreement and in Section 14 Below. This Agreement Sets Forth the Terms and Conditions for the Financing of Equipment Between Lender and Borrower Pursuant to One or More “Equipment Notes” Incorporating by Reference the Terms of This Agreement, Together With All Exhibits, Addenda, Schedules, Certificates, Riders and Other Documents and Instruments Executed and Delivered in Connection With Such Equipment Note (As Amended From Time to Time, an “Equipment Note”). Each Equipment Note Constitutes a Separate, Distinct and Independent Financing of Equipment and Contractual Obligation of Borrower. This Agreement Is Not an Agreement or Commitment by Lender or Borrower to Enter Into Any Future Equipment Notes or Other Agreements, or for Lender to Provide Any Financial Accommodations to Borrower. Lender Shall Not Be Obligated Under Any Circumstances to Advance Any Progress Payments or Other Funds for Any Equipment or to Enter Into Any Equipment Note if There Shall Have Occurred a Material Adverse Change in the Operations, Business, Properties or Condition, Financial or Otherwise, of Borrower or Any Guarantor. This Agreement and Each Equipment Note Shall Become Effective Only Upon Lender’s Acceptance and Execution Thereof at Its Corporate Offices Set Forth Above
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