EX-10.1
from DEFA14A
1 page
With Regard to the Current Ratio Covenant (I.E., a Ratio of Total Current Assets to Total Current Liabilities of Not Less Than 2.0 to 1.0) as Specified in the Loan Agreements Dated April 7, 1999, (And All Subsequent Addendums) and August 6, 2003, Each of Which Was Executed by and Between Branch Banking and Trust Company (“Bank”) and Embrex, Inc. (“Borrower”), the Bank Hereby Waives the Current Ratio Covenant Requirement for the Third Quarter Ending September 30, 2006. Additionally, the Current Ratio Covenant Will Be Waived Beginning October 1, 2006, Until the Last Day of the First Quarter of 2007 (Specifically, March 31, 2007). on March 31, 2007, the Current Ratio Covenant Will Then Be Enforceable Per the Terms and Conditions of the Aforementioned Loan Agreements. Any Questions Regarding This Matter May Be Directed to Me at 919/687-7221. Thank You. Sincerely, /S/ Earl W. Tye Earl W. Tye Senior Vice President City Executive Durham
12/34/56
EX-10.1
from 8-K
1 page
With Regard to the Current Ratio Covenant (I.E., a Ratio of Total Current Assets to Total Current Liabilities of Not Less Than 2.0 to 1.0) as Specified in the Loan Agreements Dated April 7, 1999, (And All Subsequent Addendums) and August 6, 2003, Each of Which Was Executed by and Between Branch Banking and Trust Company (“Bank”) and Embrex, Inc. (“Borrower”), the Bank Hereby Waives the Current Ratio Covenant Requirement for the Third Quarter Ending September 30, 2006. Additionally, the Current Ratio Covenant Will Be Waived Beginning October 1, 2006, Until the Last Day of the First Quarter of 2007 (Specifically, March 31, 2007). on March 31, 2007, the Current Ratio Covenant Will Then Be Enforceable Per the Terms and Conditions of the Aforementioned Loan Agreements. Any Questions Regarding This Matter May Be Directed to Me at 919/687-7221. Thank You. Sincerely, /S/ Earl W. Tye Earl W. Tye Senior Vice President City Executive Durham
12/34/56
EX-10.2
from 10-Q
10 pages
The Undersigned Represents That the Loan Evidenced Hereby Is Being Obtained for Business/Commercial or Agricultural Purposes. for Value Received, the Undersigned, Jointly and Severally, if More Than One, Promises to Pay to Branch Banking and Trust Company, a North Carolina Banking Corporation (The “Bank”), or Order, at Any of Bank’s Offices in the Above Referenced City (Or Such Other Place or Places as May Be Hereafter Be Designated by Bank), the Sum of Nine Million Dollars & 00/100 Dollars ($ 9,000,000.00), in Immediately Available Coin or Currency of the United States of America. ¨ Borrower Shall Pay a Prepayment Penalty as Set Forth in the Prepayment Penalty Addendum Attached Hereto. Interest Shall Accrue From the Date Hereof on the Unpaid Principal Balance Outstanding From Time to Time at The: ¨ Fixed Rate of % Per Annum
12/34/56
