EX-10.2
from 8-K
3 pages
October 21, 2014 Note A: $2,717,407.14 (Term Note) Payments: Monthly P&L Payments Based on a 7-Year Amortization. Maturity: 7-Years From the Date of the Note. Rate: Variable Rate at New York Prime + 4.0% With a Floor of 8.00%. Collateral: General Business Security Agreement, Assignment of the $300,000 Certificate of Deposit, All Existing Collateral (Vehicles and Equipment) and an Assignment of the Dual Fuel Technology Licensing Agreement. Note B: $500,000.00 Payments: Monthly Interest Payments. Maturity: 15-Months for the Date of the Note. Rate: Variable Rate at New York Prime + 4.0% With a Floor of 8.00%. Collateral: General Business Security Agreement, Assignment of the $300,000 Certificate of Deposit, All Existing Collateral (Vehicles and Equipment) and an Assignment of the Dual Fuel Technology Licensing Agreement. Terms: Advances Against the Line of Credit Will Be Governed by a Monthly Borrowing Base. Advance Rates Will Be 70% of Eligible Accounts Receivable Less Receivables Greater Than 90 Days, 50% of Inventory (Valued at Cost) Less Any Prior Liens,100% of the Certificate of Deposit. Eligible Accounts Receivable Includes: • All Domestic Receivables • International Receivables Supported by an Irrevocable Letter of Credit From an International Bank Approved by Iowa State Bank
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EX-10.27
from 10-K
3 pages
Borrower: AMERICAN POWER Group, Inc. 2503 East Poplar Algona, Ia 50511 Lender: Iowa State Bank Main Office 5 E Call St Algona, Ia 50511 Principal Amount: $2,500,000.00 Purpose of Loan. Revolving Line of Credit. Date of Note: December 19, 2013
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EX-10.5
from 8-K
2 pages
For Good and Valuable Consideration, the Receipt and Sufficiency of Which Are Hereby Acknowledged, and to Induce Lender (With Its Participants, Successors and Assigns), at Its Option, at Any Time or From Time to Time to Make Loans or Extend Other Accommodations to or for the Account of AMERICAN POWER GROUP Inc. (Borrower) or to Engage in Any Other Transactions With Borrower, the Guarantor Hereby Absolutely and Unconditionally Guarantees to the Lender the Full and Prompt Payment When Due, Whether at Maturity or Earlier by Reason of Acceleration or Otherwise, of the Debts, Liabilities and Obligations Described as Follows: Indebtedness. Exclusions. O Guarantor Will Be Liable for $ of the Principal Amount of the Indebtedness Outstanding at Default and for All of the Accrued Interest, and the Expenses of Collection, Enforcement or Protection of Lender’s Rights and Remedies Under This Guaranty, Including Reasonable Attorneys’ Fees
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EX-10.3
from 8-K
2 pages
Conditions: The Conditions for Future Advances Are the Loan Commitment After the First $800,000 Will Be Available as Greenman Technology, Inc. Raises Capital. for Every $1.50 in Capital by Greenman Technology, Iowa State Bank Will Make Available $1.00 Up to the Commitment of $2,000,000.00 in a Revolving Line of Credit. the Commitment Will Also Be Governed by a Monthly Borrowing Base. X Open End Credit: You and I Agree That I May Borrow Up to the Maximum Amount of Principal More Than One Time. This Feature Is Subject to All Other Conditions and Expires on 12-01-2011. ¨ Closed End Credit: You and I Agree That I May Borrow Up to the Maximum Only One Time (And Subject to All Other Conditions). Interest: I Agree to Pay Interest an the Outstanding Principal Balance From 11-09-2010 at the Rate of 7.000% Per Year Until 12-01-2011. ¨ Variable Rate: This Rate May Then Change as Stated Below. ¨ Index Rate: The Future Rate Will Be the Following Index Rate
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