EX-10.2
from 10-Q
2 pages
For Value Received, the Undersigned, IntriCon Corporation, a Pennsylvania Corporation, Intricon, Inc. (Formerly Known as Resistance Technology, Inc.), a Minnesota Corporation, Intricon Tibbetts Corporation (Formerly Known as Ti Acquisition Corporation), a Maine Corporation, and Intricon Datrix Corporation (Formerly Known as Jon Barron, Inc.) (D/B/a Datrix), a California Corporation (Each a “Borrower” and Collectively, the “Borrowers”), Hereby Jointly and Severally Promise to Pay to the Order of the Privatebank and Trust Company, an Illinois State Banking Corporation (The “Bank”), the Principal Sum of Four Million and No/100 Dollars ($4,000,000.00), Payable in Periodic Installments on the Dates and in the Amounts Set Forth in Loan Agreement (As Hereinafter Defined), With One Final Balloon Payment on the Term Loan Maturity Date. the Actual Amount Due and Owing From Time to Time Hereunder Shall Be Evidenced by Bank’s Records of Receipts and Disbursements With Respect to the Term Loan, Which Shall, Absent Manifest Error, Be Conclusive Evidence of Such Amount. Each Borrower Further Promises to Pay Interest on the Aggregate Unpaid Principal Amount Hereof at the Rates Provided in the Loan Agreement From the Date Hereof Until Payment in Full Hereof. Accrued Interest Shall Be Payable on the Dates Specified in the Loan Agreement
12/34/56