[{"id":"0f3f5534-e874-4ff5-9f50-61dfb772d03e","order":1,"text":"BUSINESS LOAN AGREEMENT","fontSize":"20","textAlign":"center","bold":true,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"973edadc-c9d2-4e57-971c-2639918a45fd","order":2,"text":"THIS BUSINESS LOAN AGREEMENT (this \"Agreement\") is made and entered into as of [Effective Date] (the \"Effective Date\"), by and between:","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"d117c74a-f690-4df3-81b8-26e1d64a52af","order":3,"text":"[Lender legal name], a corporation organized and existing under the laws of the State of Delaware, having its principal place of business at [Street address], [City, State and ZIP code] (the \"Lender\");","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"30caf092-204f-4538-aa1b-2799983bc902","order":4,"text":"and","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"7893f2cb-b3a4-40df-b2be-f7a297c49872","order":5,"text":"[Borrower legal name], a limited liability company organized and existing under the laws of the State of Delaware, having its principal place of business at [Street address], [City, State and ZIP code] (the \"Borrower\").","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"cd626176-e0ae-46e0-b51e-f650808c461c","order":6,"text":"The Lender and the Borrower are referred to in this Agreement individually as a \"Party\" and collectively as the \"Parties\". Each Party is a business entity or is acting for business purposes, and the loan described below is made exclusively for commercial purposes and not for personal, family or household purposes.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"15","cflou":false,"active":true},{"id":"4ba50830-5894-479f-9625-a4792ada0b73","order":7,"text":"RECITALS","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"10"},{"id":"cf27fb5d-9077-4fbd-9e86-1d18170b4601","order":8,"text":"WHEREAS, the Borrower has requested that the Lender extend credit to the Borrower in the principal amount set forth in this Agreement for the business purpose described below;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"bc062496-7c3e-4890-a910-3353653d3ff0","order":9,"text":"WHEREAS, the Lender is willing to extend such credit solely upon the terms and subject to the conditions set forth in this Agreement;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"1ec2e8a3-ad62-4f8d-bacc-9be3ad9157eb","order":10,"text":"WHEREAS, the Borrower is willing to grant to the Lender a security interest in the Collateral described in this Agreement in order to secure the payment and performance of the Obligations (each term as defined below);","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"bfda82fc-7d4b-420a-9dcb-97574b413a8d","order":11,"text":"WHEREAS, the Guarantor identified in this Agreement is willing to guarantee the payment and performance of the Obligations of the Borrower (as defined below);","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"036e8cda-fd8b-4edd-9799-a07be2abed4c","order":12,"text":"NOW, THEREFORE, in consideration of the mutual covenants and agreements contained in this Agreement, the extension of credit described below, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"dd4b4709-0b97-417f-bee6-411dea4432f3","order":13,"text":"The foregoing recitals are true and correct and are incorporated into and form an integral part of this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"15","cflou":false,"active":true},{"id":"039f6544-8dd4-411e-9f37-0882b3b73df7","order":14,"text":"1. DEFINITIONS","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S01"},{"id":"6b190627-777b-4e2d-9c72-448ed49bd5b9","order":15,"text":"As used in this Agreement, the following terms have the meanings set out below. Terms defined elsewhere in this Agreement have the meanings there assigned to them.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"567a953f-b296-4c29-896b-b32bf3624ac2","order":16,"text":"\"Business Day\" means any day other than a Saturday, a Sunday or a day on which commercial banks are authorized or required by law to close in the Governing State.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"1865d65d-8ad0-4080-a16c-7a5dd0d7dc6d","order":17,"text":"\"Collateral\" means the property described in the section of this Agreement entitled Security Interest, together with all accessions, additions, replacements, substitutions, books and records relating to that property, and all proceeds and products of it, including insurance proceeds.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"7e8cd2b4-ed55-4904-a181-1135d135f813","order":18,"text":"\"Default Rate\" means the rate of interest specified in the section entitled Interest, which applies upon and during the continuance of an Event of Default and after maturity.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"7158810f-246c-4408-9978-5c1c3331a4b6","order":19,"text":"\"Event of Default\" has the meaning given to it in the section entitled Events of Default.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"3d5b5b03-eaba-40d8-aaf8-d9b2715bf383","order":20,"text":"\"Governing State\" means the State of Delaware.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"3dea8701-114d-4e57-badc-0e66018fc11b","order":21,"text":"\"Guarantor\" means [Guarantor full name], who executes the guaranty set out in this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"eab4ff61-6e75-47f1-baa0-968213ee0fb2","order":22,"text":"\"Loan\" means the loan in the principal amount of $[Principal amount] made or to be made by the Lender to the Borrower under this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"2331a085-a7e4-469d-a32b-c407d8eba08a","order":23,"text":"\"Maturity Date\" means [Maturity date], or such earlier date on which the Obligations become due and payable by acceleration or otherwise.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"9f86d46c-f56f-4bfe-a86f-d3cffcd288a7","order":24,"text":"\"Obligations\" means all present and future indebtedness, liabilities and obligations of the Borrower to the Lender arising under or in connection with this Agreement, whether direct or indirect, absolute or contingent, including principal, interest (including interest accruing after the commencement of any insolvency proceeding, whether or not allowed as a claim), late charges, fees, costs of collection, expenses and reasonable attorneys' fees.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"05bbf782-435a-4251-b9b4-effa635019b0","order":25,"text":"\"Person\" means any individual, corporation, general or limited partnership, limited liability company, trust, unincorporated organization, joint venture or governmental authority.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"fc5919d6-cd3d-4148-a0ab-721057d402d0","order":26,"text":"\"UCC\" means the Uniform Commercial Code as in effect from time to time in the Governing State, or in any other jurisdiction whose law governs the perfection or priority of a security interest granted under this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"8bbe32b7-c6e5-403f-8b14-2be5c4fbd746","order":27,"text":"The singular includes the plural and the plural the singular; \"including\" means \"including without limitation\"; and a reference to a section is a reference to a section of this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"227c1157-bbd4-40ad-85bf-7979544887c4","order":28,"text":"2. THE LOAN AND PROMISE TO PAY","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S02"},{"id":"0d371a74-8bff-47cb-a65c-e2312b54175f","order":29,"text":"Commitment. Subject to the terms and conditions of this Agreement, the Lender agrees to lend to the Borrower, and the Borrower agrees to borrow from the Lender, the principal sum of $[Principal amount] (the \"Principal Amount\").","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"8f1ed899-4e62-4b28-815c-d6702180a5d8","order":30,"text":"Promise to Pay. The Borrower unconditionally promises to pay to the order of the Lender the Principal Amount, together with interest accrued on the unpaid principal balance and all other amounts payable under this Agreement, in lawful money of the United States of America and in immediately available funds, in accordance with the terms of this Agreement. This Agreement evidences the Borrower's absolute and unconditional obligation to pay the Obligations and constitutes the Borrower's promissory note for all purposes.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"18d4a269-1542-4ad7-b14d-bbe10113e182","order":31,"text":"Purpose. The Borrower shall use the proceeds of the Loan solely for the following business purpose: [Business purpose of the Loan]. The Borrower shall not use any part of the proceeds for personal, family or household purposes, nor for the purpose of purchasing or carrying any margin stock, nor for any unlawful purpose.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"7cce8de6-36a6-47f9-b208-c649358417c9","order":32,"text":"Security. The Loan and all other Obligations are secured by a continuing security interest in the Collateral granted by the Borrower in favor of the Lender as provided in this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"cc2a4db0-60bd-4b8c-9bc5-7cadd9b7f9af","order":33,"text":"Unsecured Obligation. The Loan is unsecured. The Borrower grants no lien, security interest or other encumbrance under this Agreement, and the Obligations are supported solely by the Borrower's general credit and by any guaranty given in connection with this Agreement. The Borrower acknowledges that the absence of collateral is a material element of the Lender's pricing of the Loan.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"unsecured","type":"add","operator":"="}]},{"id":"8a4c0959-f34f-4523-be1e-0e9fcf50d19e","order":34,"text":"Non-Revolving Facility. The Loan is a non-revolving term loan. Any amount of principal repaid or prepaid may not be re-borrowed.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"ac007da0-a5e7-4175-8daa-ae81eadf176a","order":35,"text":"Waivers by the Borrower. To the fullest extent permitted by applicable law, the Borrower and each endorser, surety and other Person liable for the Obligations waives presentment for payment, demand, protest, notice of protest, notice of dishonor, notice of intent to accelerate and notice of acceleration, and consents to any extension, renewal, modification, forbearance or indulgence granted by the Lender, and to the release, substitution or impairment of any collateral or of any other Person liable, in each case without notice and without affecting its own liability. To the fullest extent permitted by applicable law, the Borrower also waives the benefit of all valuation, appraisement, homestead, exemption, stay, moratorium and marshalling laws.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"a07a8127-7ef4-48c6-914b-a88fac621514","order":36,"text":"3. DISBURSEMENT AND CONDITIONS PRECEDENT","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S03"},{"id":"b78f25f1-8d45-4b78-a7f1-46e81523c70b","order":37,"text":"Disbursement. The Lender shall disburse the Principal Amount to the Borrower on or about [Funding date] (the \"Funding Date\") by wire transfer of immediately available funds to an account designated by the Borrower.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"a5dcafee-b169-46c7-ae68-f5473ca94b1e","order":38,"text":"Origination Fee. In consideration of the Lender's agreement to make the Loan, the Borrower shall pay to the Lender a non-refundable origination fee of $[Origination fee], which is fully earned on the Effective Date and payable on the Funding Date. The Lender may deduct the fee from the proceeds disbursed to the Borrower. The fee is compensation for the Lender's underwriting and documentation of the Loan and is in addition to interest.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"23af05ed-d299-4d82-a238-e399990d4a4b","value":"fee","type":"add","operator":"="}]},{"id":"bd651e2a-ae8e-4df8-8e6d-b4fc4b567a00","order":39,"text":"No Origination Fee. The Lender charges no origination, commitment, underwriting or documentation fee in connection with the Loan. The Borrower remains liable for the costs and expenses expressly provided for in this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"23af05ed-d299-4d82-a238-e399990d4a4b","value":"nofee","type":"add","operator":"="}]},{"id":"b81b7e39-9e53-4503-98a7-bed0d9a4a141","order":40,"text":"Conditions Precedent. The obligation of the Lender to disburse the Principal Amount is subject to the satisfaction, in the Lender's reasonable judgment, of each of the following conditions: the due execution and delivery of this Agreement by each party to it; the accuracy in all material respects of each representation and warranty of the Borrower; the absence of any Event of Default and of any event that, with notice or the passage of time, would become an Event of Default; and the delivery of such organizational documents, certificates of good standing, authorizing resolutions, incumbency certificates and other information as the Lender may reasonably request.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"ec101510-15eb-4063-b09a-c5aba64c3e0f","order":41,"text":"Collateral Documentation. The Lender's obligation to disburse is further subject to the execution and delivery by the Borrower of all documents required to create, perfect and protect the Lender's security interest in the Collateral, including authorization to file one or more financing statements, and to the Lender's satisfaction with the results of its lien, judgment and tax searches.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"d709bb4a-fa09-48e9-ac6d-6887382439d0","order":42,"text":"Guaranty Documentation. The Lender's obligation to disburse is further subject to the execution and delivery by the Guarantor of the guaranty set out in this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"57e5cfce-8799-4c99-a13f-438b74476a49","order":43,"text":"Evidence of Indebtedness. The Lender's books and records of the Loan, of all interest accrued and of all payments received are prima facie evidence of the amounts owing under this Agreement, absent manifest error.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"2a34eea8-5d45-409b-863d-5fc7f95df316","order":44,"text":"4. INTEREST","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S04"},{"id":"72e90e54-54a7-4fed-bdce-09ac4f2edd14","order":45,"text":"Interest Rate. The unpaid principal balance of the Loan bears interest at the fixed rate of [Annual interest rate]% per annum from and including the Funding Date until the Obligations are paid in full.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"16a50cfe-cc4b-42ca-acfe-b8a665333a92","order":46,"text":"Computation. Interest is computed on the basis of a 365-day year (366 days in a leap year) and the actual number of days elapsed.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"ae3ad328-85ee-4166-99eb-10927782b2ac","order":47,"text":"Default Rate. Upon and during the continuance of an Event of Default, and from and after maturity (whether at the Maturity Date, by acceleration or otherwise), the unpaid balance of the Obligations bears interest at the rate of [Default interest rate]% per annum or at the maximum rate permitted by applicable law, whichever is less (the \"Default Rate\"), without notice to or demand upon the Borrower. Interest at the Default Rate accrues both before and after judgment, and continues to accrue after the commencement of any bankruptcy, insolvency or receivership proceeding, in each case to the fullest extent permitted by applicable law.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"d0a22ee0-4c6e-4b3a-a07a-f76a339e6a40","order":48,"text":"Usury Savings. Notwithstanding any other provision of this Agreement, no provision requires the payment, nor permits the collection, of interest, charges or fees in excess of the maximum amount permitted by applicable law. If any amount in excess of that maximum is contracted for, charged or received, it is deemed the result of a mistake, and any excess is applied to reduce the unpaid principal balance of the Loan or, if the principal has been paid in full, refunded to the Borrower. It is the intention of the Parties to conform strictly to all applicable usury and maximum-rate laws of the Governing State and of the United States.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"fc8e9e72-87be-4898-8657-e27666e3d004","order":49,"text":"5. REPAYMENT","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S05"},{"id":"5c851af6-e23e-4bd2-ba67-8b2f46dde89e","order":50,"text":"Maturity. All Obligations, including the entire unpaid Principal Amount and all accrued and unpaid interest, are due and payable in full on [Maturity date] (the \"Maturity Date\"), unless sooner accelerated in accordance with this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"e8c864be-5a67-496d-8e42-1336e63a9ef0","order":51,"text":"Scheduled Payments. The Borrower shall repay the Principal Amount, together with interest, in [Number of installments] consecutive equal monthly installments of $[Installment amount] each, the first installment being due and payable on [First payment date] and each subsequent installment being due on the same day of each succeeding month until the Obligations are paid in full. Subject to the order of application of payments set out in this Agreement, each installment is applied first to accrued and unpaid interest and then to the reduction of principal, in accordance with the amortization schedule attached to this Agreement as Exhibit A.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"67566f4a-da55-4b99-89a9-ef668d141cec","value":"installments","type":"add","operator":"="}]},{"id":"9cc97a3f-ddb1-4cc6-9145-7236a8ac9fc2","order":52,"text":"Amortization Schedule. The amortization schedule is provided for the convenience of the Parties only. In the event of any conflict between that schedule and the terms of this Agreement, the terms of this Agreement control. All remaining unpaid principal, accrued interest and other Obligations are in any event due and payable in full on the Maturity Date.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"67566f4a-da55-4b99-89a9-ef668d141cec","value":"installments","type":"add","operator":"="}]},{"id":"3e96523c-5ed3-447e-a65b-249cdf5796ac","order":53,"text":"Scheduled Payments. The Borrower shall pay accrued and unpaid interest only, in arrears, on a monthly basis, the first such payment being due on [First interest payment date] and each subsequent payment being due on the same day of each succeeding payment period. The entire unpaid Principal Amount, together with all accrued and unpaid interest and all other Obligations, is due and payable in a single balloon payment on the Maturity Date.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"67566f4a-da55-4b99-89a9-ef668d141cec","value":"interestonly","type":"add","operator":"="}]},{"id":"79107040-b26f-4dac-9c48-bd349514bba5","order":54,"text":"Balloon Payment Acknowledgement. The Borrower acknowledges that the scheduled payments do not amortize the Principal Amount, that a substantial balloon payment will become due on the Maturity Date, and that the Lender has no obligation whatsoever to refinance, extend or renew the Loan at maturity.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"67566f4a-da55-4b99-89a9-ef668d141cec","value":"interestonly","type":"add","operator":"="}]},{"id":"abd13030-029a-4e60-b43c-de5f0473c772","order":55,"text":"Single Payment. The entire Principal Amount, together with all accrued and unpaid interest and all other Obligations, is due and payable in a single payment on the Maturity Date. No periodic payment of principal or interest is required before the Maturity Date; interest accrues from the Funding Date and is payable in full at maturity.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"67566f4a-da55-4b99-89a9-ef668d141cec","value":"lumpsum","type":"add","operator":"="}]},{"id":"a30a1953-2062-4133-aaf7-610175050b76","order":56,"text":"Place and Time of Payment. All payments are made to the Lender at its address for notices set out in this Agreement, or at such other place or account as the Lender designates in writing, not later than 5:00 p.m. local time on the due date. A payment received after that time is deemed received on the next Business Day. If a payment falls due on a day that is not a Business Day, the due date is extended to the next Business Day and interest continues to accrue during the extension.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"79948194-76d7-4b54-a4d5-0ab80cf9d1fb","order":57,"text":"Payoff and Account Statements. Upon the written request of the Borrower, the Lender shall provide a payoff statement setting out the amount required to satisfy the Obligations in full as of a specified date, and shall otherwise respond to any request for a statement of account or a list of collateral within the period and in the manner required by applicable law. The Borrower may rely on a payoff statement only for the period expressly stated in it.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"63f1460c-2e68-45eb-844b-b860b2c14e58","order":58,"text":"6. PREPAYMENT","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S06"},{"id":"d20bedce-adde-4b13-a71b-23b6c2492b2f","order":59,"text":"Prepayment Without Premium. The Borrower may prepay the Loan in whole or in part at any time without premium, penalty or additional charge. Each prepayment is applied first to costs and expenses then reimbursable to the Lender, then to late charges, then to accrued and unpaid interest, and then to the unpaid principal balance in the inverse order of maturity. A partial prepayment does not relieve the Borrower of the obligation to make each subsequent scheduled payment as it becomes due.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"d93dc7b0-accb-41f2-afaf-a1bf2a45662f","value":"nopenalty","type":"add","operator":"="}]},{"id":"2ba0842d-e6ab-4e63-8b3b-b500ade317d3","order":60,"text":"Prepayment With Premium. The Borrower may prepay the Loan in whole or in part at any time, provided that the Borrower pays to the Lender, at the time of prepayment, a prepayment premium equal to [Prepayment premium rate]% of the principal amount prepaid. The premium compensates the Lender for the loss of the bargained-for yield, is not a penalty, and is payable whether the prepayment is voluntary, involuntary or made following acceleration. Each prepayment is applied first to the premium and to costs and expenses then reimbursable to the Lender, then to late charges, then to accrued and unpaid interest, and then to the unpaid principal balance.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"d93dc7b0-accb-41f2-afaf-a1bf2a45662f","value":"premium","type":"add","operator":"="}]},{"id":"1f5e1a63-fb50-4b6f-a0fe-9d408f2e0f0e","order":61,"text":"No Prepayment Without Consent. The Borrower may not prepay the Loan in whole or in part before the Maturity Date without the prior written consent of the Lender, which the Lender may grant or withhold in its sole discretion. Any prepayment accepted by the Lender is applied first to costs and expenses then reimbursable to the Lender, then to late charges, then to accrued and unpaid interest, and then to the unpaid principal balance.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"d93dc7b0-accb-41f2-afaf-a1bf2a45662f","value":"notpermitted","type":"add","operator":"="}]},{"id":"0fd2fab2-e4f8-43b8-a64e-25aea206e3a0","order":62,"text":"7. LATE CHARGES AND APPLICATION OF PAYMENTS","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S07"},{"id":"23e1d775-a47a-4473-af4d-e8a59e226719","order":63,"text":"Late Charge. If any payment due under this Agreement is not received by the Lender within [Grace period in days] days after its due date, the Borrower shall pay to the Lender a late charge equal to [Late charge rate]% of the overdue payment, or the maximum late charge permitted by applicable law, whichever is less. The late charge is a reasonable estimate of the administrative costs incurred by the Lender and is not a penalty. Acceptance of a late charge does not waive any Event of Default and does not extend the due date of any payment.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"adfcdb63-daf5-4b16-8522-038f2c5b729a","order":64,"text":"Application of Payments. Unless otherwise required by applicable law, each payment is applied: first, to costs and expenses reimbursable to the Lender; second, to late charges; third, to accrued and unpaid interest; and fourth, to the unpaid principal balance. Upon and during the continuance of an Event of Default, the Lender may apply payments to the Obligations in any order it determines in its sole discretion.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"3564f9fe-3994-4aa7-8432-caa297bf2e5a","order":65,"text":"No Deduction or Setoff by the Borrower. Each payment is made free and clear of, and without deduction for, any setoff, counterclaim, recoupment, defense or withholding of any kind.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"4d9f1ce9-ebd9-4d2a-9b73-ef59b7516f3c","order":66,"text":"Dishonored Payments. If any payment instrument is dishonored or returned unpaid for any reason, the Borrower shall pay the Lender the maximum fee permitted by applicable law, and the payment is deemed not to have been made.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"55bba2fa-f420-4aa1-8f58-0d77435feec3","order":67,"text":"8. SECURITY INTEREST","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}],"marginTop":"20","sectionNum":"S08"},{"id":"514b4f80-464f-46df-960d-0301072a6479","order":68,"text":"Grant of Security Interest. As security for the prompt payment and performance in full of all Obligations, the Borrower grants to the Lender a continuing security interest in and lien upon the following property of the Borrower, whether now owned or existing or hereafter acquired or arising and wherever located (collectively, the \"Collateral\"): [Description of the collateral], together with all accessions, additions, replacements and substitutions, all books and records relating to the foregoing, and all proceeds and products of the foregoing, including insurance proceeds and claims against third parties.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"95912b35-a897-4528-873e-72127c3655c3","order":69,"text":"Attachment and Perfection. The security interest granted attaches upon the execution of this Agreement and the extension of value by the Lender. The Borrower authorizes the Lender to file one or more financing statements, and any amendment, continuation or termination statement, describing the Collateral in any manner permitted by Article 9 of the UCC, in the office of the filing officer of the Borrower's jurisdiction of organization and in any other office the Lender deems appropriate, in each case without the further signature or authorization of the Borrower.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"759469b9-a1f0-469f-91e1-69121283f7be","order":70,"text":"Further Assurances. The Borrower shall promptly execute and deliver all instruments, assignments, control agreements, landlord or mortgagee waivers, certificates of title and other documents, and take all further action, that the Lender reasonably requests in order to create, perfect, protect, maintain and continue a first-priority perfected security interest in the Collateral.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"82509f04-178a-473b-be57-a958afdbe8e8","order":71,"text":"Custody and Use of Collateral. The Borrower shall keep the Collateral at its principal place of business or at such other location as it has disclosed to the Lender in writing; shall not sell, lease, license, transfer or otherwise dispose of any Collateral except inventory sold in the ordinary course of business; shall keep the Collateral free of all liens and encumbrances other than those in favor of the Lender or expressly permitted in writing by the Lender; and shall not permit the Collateral to be used in violation of any applicable law or insurance policy.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"cc7ab3c7-42ef-4bc7-8b1d-15ba78335708","order":72,"text":"Insurance of Collateral. The Borrower shall keep the tangible Collateral insured against loss, damage and theft with financially sound and reputable insurers, in amounts not less than the full replacement value, shall cause the Lender to be named as lender loss payee and additional insured, and shall deliver certificates of insurance to the Lender upon request. Each policy must provide for at least thirty days' prior written notice to the Lender before cancellation. If the Borrower fails to maintain the required insurance, the Lender may obtain it at the Borrower's expense, and the cost is added to the Obligations and bears interest at the Default Rate.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"fa426683-186a-4dd6-9e0f-88fbf6f6b079","order":73,"text":"Taxes, Maintenance and Inspection. The Borrower shall pay when due all taxes, assessments and charges upon the Collateral, shall maintain the Collateral in good working order and repair (ordinary wear and tear excepted), and shall permit the Lender and its agents to inspect the Collateral and the related books and records at any reasonable time upon reasonable prior notice, and at any time without notice after an Event of Default.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"30ccd7a8-a187-423a-abf0-48c3a784d4cd","order":74,"text":"Continuing Security Interest and Future Advances. The security interest granted is a continuing security interest that remains in full force until the Obligations have been indefeasibly paid in full, and it secures all Obligations, including all future advances and all other value given by the Lender to or for the account of the Borrower, whether or not given pursuant to any commitment and whether or not contemplated on the Effective Date.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"aa8aaa3a-e813-4e1e-8aa8-3972d454586e","order":75,"text":"Duty of Care of the Lender. The sole duty of the Lender with respect to any Collateral in its possession is to use reasonable care in its custody and preservation. The Lender has no obligation to take any step to preserve rights against prior parties, to collect any sum due, to protect against any decline in value, or to exercise any right of the Borrower with respect to the Collateral.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"6ba533db-792d-49cd-aeba-ef959552d6c0","order":76,"text":"Termination of the Security Interest. Upon the indefeasible payment in full of all Obligations, the security interest terminates and, upon the written demand of the Borrower and at the Borrower's expense, the Lender shall file or deliver a termination statement in accordance with Article 9 of the UCC within the period required by applicable law, and shall return to the Borrower any Collateral then in its possession.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"a9345d20-15ea-4bc7-b5cd-121fc973f517","order":77,"text":"Changes Affecting Perfection. The Borrower shall give the Lender at least thirty days' prior written notice of any change in its legal name, its jurisdiction of organization, its organizational structure or the location of its chief executive office, and shall take all action necessary to ensure that the Lender's security interest remains perfected and first-priority following any such change.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"9b0fe521-14c7-4ec8-b1b6-86e8d29a5b65","order":78,"text":"9. GUARANTY","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}],"marginTop":"20","sectionNum":"S09"},{"id":"9c3515fc-b18c-459d-b14d-e8d4b3040d27","order":79,"text":"Guaranty of Payment. In consideration of the Lender making the Loan to the Borrower, [Guarantor full name], residing or having its principal place of business at [Guarantor street address], [City, State and ZIP code] (the \"Guarantor\"), absolutely, unconditionally and irrevocably guarantees to the Lender the full and prompt payment and performance when due of all Obligations, whether at stated maturity, by acceleration or otherwise. This is a guaranty of payment and not merely of collection.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"7840f811-f912-407f-b400-2ea8978f81db","order":80,"text":"Scope of the Guaranty. The liability of the Guarantor is unlimited in amount and extends to the entire amount of the Obligations, including principal, interest at the applicable rate (including the Default Rate), late charges, costs of collection and reasonable attorneys' fees.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"cc897739-50ac-4f67-83bb-303fcdbb1383","value":"unlimited","type":"add","operator":"="},{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"noguaranty","type":"remove","operator":"="}]},{"id":"10ab3a03-15d4-4cca-9d66-bc3848126697","order":81,"text":"Scope of the Guaranty. The liability of the Guarantor is limited to the aggregate principal amount of $[Maximum guaranteed amount], plus interest accruing on that amount at the applicable rate (including the Default Rate), late charges, and the costs of collection and reasonable attorneys' fees incurred by the Lender in enforcing this guaranty.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"cc897739-50ac-4f67-83bb-303fcdbb1383","value":"limited","type":"add","operator":"="},{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"noguaranty","type":"remove","operator":"="}]},{"id":"eff2794d-756f-4156-a84f-b1617a6001db","order":82,"text":"Waivers by the Guarantor. The Guarantor waives presentment, demand for payment, notice of dishonor, protest, notice of protest, notice of acceptance of this guaranty, notice of the creation, renewal, extension or accrual of any Obligation, and all other notices and demands of every kind. The Lender is not required to proceed first against the Borrower, against any other guarantor or against any collateral before enforcing this guaranty, and may compromise or settle with the Borrower without releasing the Guarantor.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"ed493468-39b5-4b9b-8fa9-d655084a56cd","order":83,"text":"Continuing Guaranty. This guaranty is a continuing guaranty and remains in full force and effect until all Obligations have been indefeasibly paid in full. It is not affected by any amendment, extension, renewal or modification of this Agreement, by any release, exchange, impairment or failure to perfect any collateral, or by the death, incapacity, dissolution, insolvency or bankruptcy of the Borrower. If any payment applied to the Obligations is later avoided, rescinded or required to be returned, the liability of the Guarantor is reinstated as though the payment had never been made.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"279e89ea-4ba4-4713-940c-dd970dbe1810","order":84,"text":"Subordination and Subrogation. Any indebtedness of the Borrower now or hereafter owing to the Guarantor is subordinated to the Obligations. Until the Obligations have been paid in full, the Guarantor shall not exercise any right of subrogation, contribution, reimbursement or indemnity against the Borrower or any collateral.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"6e717e3c-5455-47ef-9bbf-2b1c0cdb405f","order":85,"text":"10. REPRESENTATIONS AND WARRANTIES OF THE BORROWER","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S10"},{"id":"ef3eaebf-e655-4fa6-87d7-8c92a48af0b5","order":86,"text":"The Borrower represents and warrants to the Lender, as of the Effective Date and as of the Funding Date, as follows.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"ca16cc72-d8b9-4c9e-bbc6-2c54cb099947","order":87,"text":"Organization and Good Standing. The Borrower is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, and is duly qualified to transact business in each jurisdiction in which the nature of its activities requires qualification.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"dadb9546-cd54-457f-8eb1-ef8691cdb6fa","order":88,"text":"Authority and Due Authorization. The execution, delivery and performance of this Agreement have been duly authorized by all necessary corporate, company or partnership action, and do not violate the Borrower's organizational documents, any applicable law, or any agreement, judgment or order binding upon the Borrower or its assets.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"6a9dccd9-f0d0-41f4-b787-ff0449080f93","order":89,"text":"Enforceability. This Agreement constitutes the legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, subject only to applicable bankruptcy, insolvency and similar laws affecting creditors' rights generally.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"6c044a41-1838-4eed-bf01-894e47ed6c19","order":90,"text":"Financial Information. All financial statements and other information furnished by the Borrower to the Lender are true, correct and complete in all material respects and fairly present the financial condition and results of operations of the Borrower as of their respective dates. No material adverse change in the financial condition, business or operations of the Borrower has occurred since the date of the most recent financial statements delivered to the Lender.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"e5e6bcbd-afc3-49ba-b1fb-42282be1468d","order":91,"text":"Litigation and Compliance with Law. There is no action, suit, proceeding or investigation pending or, to the knowledge of the Borrower, threatened against the Borrower that could reasonably be expected to have a material adverse effect. The Borrower is in compliance in all material respects with all applicable laws and regulations, has filed all required tax returns and has paid all taxes shown to be due on them.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"6fe1a664-57cb-417c-8421-26cfabbb7189","order":92,"text":"Title to the Collateral. The Borrower has good and marketable title to the Collateral, free and clear of all liens, security interests and encumbrances other than those disclosed to and accepted in writing by the Lender, and no financing statement covering any of the Collateral is on file in any public office other than in favor of the Lender.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"73e74fe3-d955-4254-a2db-858cf7045706","order":93,"text":"Sanctions, Anti-Money Laundering and Anti-Corruption. Neither the Borrower nor any of its owners, officers, directors or affiliates is a Person named on any list of sanctioned Persons maintained by the Office of Foreign Assets Control of the United States Department of the Treasury or by any other competent authority, nor is organized or resident in a sanctioned jurisdiction. The Borrower shall not use the proceeds of the Loan, directly or indirectly, in violation of any applicable anti-money laundering, anti-corruption or economic sanctions law, including the Bank Secrecy Act and the Foreign Corrupt Practices Act.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"0502af40-ec4b-4489-84a1-ede8da4d0bef","order":94,"text":"Solvency. The Borrower is solvent, is able to pay its debts as they become due, and will not be rendered insolvent by the transactions contemplated by this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"f199e41d-d694-48b8-9747-e7e50dfa26e3","order":95,"text":"Survival and Repetition. Each representation and warranty survives the execution of this Agreement and the disbursement of the Loan, and is deemed repeated on each date on which any payment becomes due under this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c9140d72-52a2-4fc7-87ff-6bf5ece165ff","order":96,"text":"11. AFFIRMATIVE COVENANTS","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S11"},{"id":"fdd3c65b-3d8a-40df-9b9d-5691315eef26","order":97,"text":"Until all Obligations have been paid in full, the Borrower covenants and agrees as follows.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"f8a734a9-29bc-4aeb-a31b-637a9f052781","order":98,"text":"Financial Statements. The Borrower shall deliver to the Lender, on an annual basis and within [Number of days] days after the end of each applicable reporting period, financial statements prepared in accordance with generally accepted accounting principles consistently applied, together with such other financial or operating information as the Lender may reasonably request.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"a9a11a55-d3b2-45a3-a904-e8d9c6906ed7","order":99,"text":"Existence, Licenses and Compliance. The Borrower shall preserve and maintain its legal existence and good standing, shall maintain all licenses, permits and authorizations necessary to conduct its business, and shall comply in all material respects with all applicable laws, regulations and orders.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"4e989a65-d603-424f-92b1-5408558bf06f","order":100,"text":"Taxes and Claims. The Borrower shall pay and discharge, before they become delinquent, all taxes, assessments and governmental charges levied upon it or its assets, except those contested in good faith by appropriate proceedings and for which adequate reserves are maintained.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"408ef35d-6928-433d-9428-48b2d0f556cd","order":101,"text":"Insurance. The Borrower shall maintain insurance of the types and in the amounts customarily carried by businesses of similar size operating in the same industry, with financially sound and reputable insurers, and shall provide evidence of that insurance to the Lender upon request.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"360676a2-cc60-4f58-b1f8-27e5cfcd3df4","order":102,"text":"Books, Records and Inspection. The Borrower shall keep accurate books and records, and shall permit the Lender and its representatives, upon reasonable prior notice and during normal business hours, to inspect and copy them and to discuss the Borrower's affairs and finances with its officers and accountants. No prior notice is required after an Event of Default.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"b8674fb2-6d36-486e-9a1f-c82fbde9b456","order":103,"text":"Notice of Material Events. The Borrower shall notify the Lender in writing within five Business Days of becoming aware of any Event of Default; of any litigation, judgment or governmental proceeding that could reasonably be expected to have a material adverse effect; of any material adverse change in its financial condition; and of any change in its legal name, jurisdiction of organization or principal place of business.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"159e6348-76a8-428a-9652-ef53e61c9418","order":104,"text":"Debt Service Coverage Ratio. The Borrower shall maintain, tested as of the end of each fiscal year on a rolling twelve-month basis, a debt service coverage ratio of not less than [Minimum ratio] to 1.00, calculated as earnings before interest, taxes, depreciation and amortization divided by the aggregate of all scheduled payments of principal and interest coming due during the period tested. Failure to maintain that ratio is a breach of covenant subject to the cure period set out in the section entitled Events of Default.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"6c2f7b04-0d4e-42af-bd5f-bd5138e9c553","value":"dscr","type":"add","operator":"="}]},{"id":"2a7f105f-e51c-4eec-9ae4-8ce207f094e3","order":105,"text":"No Financial Ratio Covenant. The Borrower is not required to maintain any specified financial ratio. The reporting, insurance, tax and other covenants set out in this Agreement remain fully applicable, and the Lender reserves all rights arising from any material adverse change in the financial condition of the Borrower.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"6c2f7b04-0d4e-42af-bd5f-bd5138e9c553","value":"nodscr","type":"add","operator":"="}]},{"id":"e922d6a0-5114-4ba8-92df-43d87dbb2c52","order":106,"text":"Use of Proceeds and Further Assurances. The Borrower shall use the proceeds of the Loan solely for the purpose stated in this Agreement and shall execute such further documents as the Lender may reasonably require to give effect to this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"5bd89684-ab95-478f-9e09-227fa9183cbb","order":107,"text":"12. NEGATIVE COVENANTS","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S12"},{"id":"1c0e123d-0893-4071-ab3f-ab3f0a2e1939","order":108,"text":"Until all Obligations have been paid in full, the Borrower shall not do any of the following without the prior written consent of the Lender.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"540673df-9cfa-4159-933b-6211d7e2eeec","order":109,"text":"Additional Indebtedness. The Borrower shall not incur, create, assume or permit to exist any indebtedness for borrowed money, capital lease obligation or guarantee of the obligations of another person, other than trade payables incurred in the ordinary course of business and indebtedness existing on the Effective Date and disclosed in writing to the Lender.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"43bf004f-ffbf-413f-ad43-1d8732478289","order":110,"text":"Liens and Negative Pledge. The Borrower shall not create, incur or permit to exist any lien, security interest, pledge or other encumbrance upon any of its assets, other than liens for taxes not yet due and payable, statutory liens arising in the ordinary course of business that are not overdue, and liens in favor of the Lender.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"f06042ae-41b8-4aed-b127-535f05ac8fb9","order":111,"text":"Disposition of Assets. The Borrower shall not sell, lease, assign, transfer or otherwise dispose of all or any substantial part of its assets outside the ordinary course of business.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"ce89d937-49c9-46aa-aca8-5197459732bf","order":112,"text":"Fundamental Changes. The Borrower shall not merge or consolidate with any other person, reorganize, dissolve or liquidate, nor permit any change of control of more than fifty percent of its outstanding equity interests, nor materially change the nature of the business it conducts on the Effective Date.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"2c6c086b-0576-43fa-a310-f2325af300ee","order":113,"text":"Distributions and Insider Payments. While any Event of Default exists, the Borrower shall not declare or pay any dividend or distribution, redeem or repurchase any equity interest, or make any loan or advance to any owner, officer, director or affiliate, other than compensation for services actually rendered at fair market value in the ordinary course of business.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"11291004-b71f-40d0-afab-8e31804686be","order":114,"text":"13. EVENTS OF DEFAULT","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S13"},{"id":"161864c6-20ec-4fab-8025-2e2b007e3315","order":115,"text":"Each of the following constitutes an \"Event of Default\" under this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"6e49aa47-b80b-478d-8059-a6bdbaf71fea","order":116,"text":"Payment Default. The Borrower fails to pay any payment of principal, interest or any other amount when due under this Agreement, and the failure continues for [Grace period in days] days after the due date.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"bb9b9476-ef85-42be-bd9f-7f299fa339f5","order":117,"text":"Covenant Default. The Borrower fails to perform or observe any other covenant, condition or agreement contained in this Agreement and, if the failure is capable of cure, it continues for thirty days after written notice from the Lender.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"55331f21-e0da-414d-a8ab-b4d27eb09f0b","order":118,"text":"Misrepresentation. Any representation, warranty, certificate or statement made or furnished by the Borrower or by any guarantor proves to have been false or misleading in any material respect when made or deemed made.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c0271e2e-32c8-4af5-8d66-b946c48b820a","order":119,"text":"Insolvency. The Borrower or any guarantor becomes insolvent, admits in writing its inability to pay its debts as they become due, makes an assignment for the benefit of creditors, or has a receiver, trustee or custodian appointed for it or for any substantial part of its property; or any proceeding under any bankruptcy or insolvency law is commenced by it, or is commenced against it and is not dismissed within sixty days.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"0e62b678-d6d9-4143-b71a-5ffa472b6630","order":120,"text":"Judgments and Enforcement. Any judgment, writ of attachment, levy, garnishment, tax lien or similar process is entered or filed against the Borrower or any of its assets and is not satisfied, stayed, bonded or discharged within thirty days.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"81de0f33-adb7-419b-927e-66d2445718f5","order":121,"text":"Material Adverse Change. Any material adverse change occurs in the financial condition, business or operations of the Borrower or of any guarantor, or the Lender in good faith and on commercially reasonable grounds determines that the prospect of payment or performance of the Obligations is materially impaired.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"ec2366ab-742b-4829-87d8-02e315d00fe3","order":122,"text":"Cross-Default. The Borrower defaults under any other agreement for borrowed money or material obligation, and the default permits or results in the acceleration of that obligation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"6e2548db-c384-4132-b18c-a5c2868e9777","order":123,"text":"Cessation of Business. The Borrower ceases to conduct its business as a going concern, is dissolved, or suspends its operations for more than ten consecutive Business Days.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"240f4018-e762-410d-ac1a-232d2c24e486","order":124,"text":"Impairment of Collateral. Any material part of the Collateral is lost, stolen, destroyed, materially damaged, seized, levied upon, sold or encumbered without the Lender's consent; the Lender's security interest ceases to be a valid, perfected, first-priority security interest; or the Lender in good faith and on commercially reasonable grounds deems the prospect of payment or performance of the Obligations to be impaired.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"06d5e360-39d4-4262-9f15-88a19dd05b87","order":125,"text":"Guarantor Default. The Guarantor revokes or attempts to revoke the guaranty, dies, becomes incapacitated, is dissolved, becomes insolvent, or fails to perform any obligation under the guaranty set out in this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"40f8fe81-e6c5-4679-91fc-a731382eb67c","order":126,"text":"14. REMEDIES AND ACCELERATION","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S14"},{"id":"b9841bb9-10cb-4854-8514-b33eb1d12bb7","order":127,"text":"Acceleration. Upon the occurrence of any Event of Default, the Lender may, at its option and without notice, presentment, protest or demand of any kind (each of which the Borrower expressly waives), declare the entire unpaid Principal Amount, all accrued and unpaid interest and all other Obligations to be immediately due and payable. Upon the occurrence of an Event of Default arising from insolvency or the commencement of a bankruptcy proceeding, that acceleration is automatic and immediate, without any act of the Lender.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"785cc8f1-293d-4475-b6d9-6a9f7b99dc09","order":128,"text":"Default Interest and Charges. From and after acceleration or the occurrence of an Event of Default, all Obligations bear interest at the Default Rate until paid in full, and the Lender is entitled to all late charges, costs and expenses provided for in this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"556285eb-29dc-4ad3-bc96-46eaa7649678","order":129,"text":"Right of Setoff. The Lender may, at any time after an Event of Default and without prior notice to the Borrower, set off and apply against the Obligations any deposit, credit or other indebtedness at any time held or owing by the Lender to or for the account of the Borrower, to the fullest extent permitted by applicable law.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"082e14b4-fc12-4222-8b42-86e68ceab9ef","order":130,"text":"Remedies of a Secured Party. Upon the occurrence of an Event of Default, the Lender has all rights and remedies of a secured party under Article 9 of the UCC and under other applicable law, including the right to take immediate possession of the Collateral without judicial process if this can be done without breach of the peace, to require the Borrower to assemble the Collateral and make it available to the Lender at a place designated by the Lender, to enter any premises where the Collateral is located, and to sell, lease, license or otherwise dispose of the Collateral at public or private sale. The Borrower agrees that ten days' prior written notice of the time and place of any public sale, or of the time after which any private sale may be made, constitutes commercially reasonable notification. The Lender may apply the proceeds of any disposition to the Obligations in the order it determines, and the Borrower remains liable for any deficiency.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"cd572c48-7768-48f3-9746-f49d392cd788","order":131,"text":"Power of Attorney. The Borrower irrevocably appoints the Lender as its attorney-in-fact, coupled with an interest, with authority, upon and during the continuance of an Event of Default, to endorse the Borrower's name upon any instrument, document or chattel paper relating to the Collateral, to notify account debtors to make payment directly to the Lender, and to take any other action the Lender deems necessary to protect, preserve and enforce its rights in the Collateral.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"b55c7258-84a9-4aee-8376-d12c46ffe195","order":132,"text":"Cumulative Remedies. All rights and remedies of the Lender are cumulative and may be exercised singly, successively or concurrently, at the Lender's sole discretion. No delay or omission in exercising any right operates as a waiver of that right or of any other right, and no single or partial exercise precludes any further exercise.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"ece2cc3a-710f-4de8-b17c-4991987293a8","order":133,"text":"15. COSTS OF COLLECTION AND INDEMNIFICATION","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S15"},{"id":"13efed1d-858b-47d2-baf4-f73fb15de7de","order":134,"text":"Costs of Collection. The Borrower shall pay on demand all costs and expenses incurred by the Lender in connection with the preparation, administration, amendment and enforcement of this Agreement and the collection of the Obligations, including reasonable attorneys' fees (whether or not suit is commenced, and including fees incurred in any appellate, bankruptcy, insolvency or receivership proceeding), court costs, filing and search fees, and the costs of repossessing, holding, insuring, preparing for sale and disposing of any collateral, in each case to the extent permitted by applicable law. All such amounts are added to the Obligations and bear interest at the Default Rate until paid. Where applicable law requires that a contractual provision for the recovery of attorneys' fees be reciprocal, that provision is deemed reciprocal and the prevailing Party is entitled to recover its reasonable attorneys' fees.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"55b01d40-44b0-4317-a260-eb21eb2b8edb","order":135,"text":"Indemnification. The Borrower shall indemnify, defend and hold harmless the Lender and its officers, directors, employees, agents, successors and assigns from and against any claim, loss, liability, damage, judgment, cost or expense (including reasonable attorneys' fees) arising out of or relating to the Loan, the use of the proceeds, or any breach by the Borrower of this Agreement, except to the extent finally determined to have been caused by the Lender's gross negligence or willful misconduct. This indemnity survives the repayment of the Loan and the termination of this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"3dd53f33-04cc-44e4-b031-b04efa5ae0eb","order":136,"text":"16. NOTICES","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S16"},{"id":"c3aafa41-788b-4427-9c9d-7e55f29854a9","order":137,"text":"All notices, requests, demands and other communications under this Agreement must be in writing and are deemed duly given: when delivered personally; one Business Day after deposit with a nationally recognized overnight courier, charges prepaid; three Business Days after deposit in the United States mail, certified or registered, return receipt requested, postage prepaid; or on the date of transmission if sent by electronic mail with confirmation of receipt, in each case addressed as follows.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"bd3961b5-cb1e-4930-b516-0d32440f3627","order":138,"text":"To the Lender: [Lender legal name], [Street address], [City, State and ZIP code], Attention: [Name of authorized signatory], Email: [Email address].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"d41cb772-31f6-407c-ae37-5d89ff665ceb","order":139,"text":"To the Borrower: [Borrower legal name], [Street address], [City, State and ZIP code], Attention: [Name of authorized signatory], Email: [Email address].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"7990743d-ad0c-4a0b-88b6-eac56f51eac3","order":140,"text":"To the Guarantor: [Guarantor full name], [Guarantor street address], [City, State and ZIP code].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"20138808-f1ca-4e8b-996a-4e58f1966e57","order":141,"text":"Any Party may change its address or electronic mail address for notices by giving written notice to the other Party in accordance with this section. Refusal to accept delivery is deemed receipt.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"cb98c0f1-95a5-4c0b-be52-de9a1d6b55f3","order":142,"text":"17. GOVERNING LAW AND VENUE","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S17"},{"id":"fe009200-1b83-405c-99e1-c6b4163625f3","order":143,"text":"Governing Law. This Agreement, and all claims or causes of action arising out of or relating to it or to the Loan, are governed by and construed in accordance with the laws of the Governing State, without regard to its conflict of laws principles, except that the perfection, the effect of perfection or non-perfection and the priority of any security interest may be governed by the laws of another jurisdiction as required by the UCC.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c934a121-3f39-4ba0-87ce-fde272395031","order":144,"text":"Venue and Jurisdiction. Subject to the section entitled Dispute Resolution, each Party irrevocably submits to the exclusive jurisdiction of the state and federal courts located in [County] County, State of Delaware, waives any objection based on lack of personal jurisdiction, improper venue or forum non conveniens, and consents to service of process by any means permitted by applicable law.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"7d2347ff-75f7-4bd9-9ff2-aa8e1e398ae5","order":145,"text":"Compliance with Applicable State Law. The Parties intend that this Agreement comply with all applicable federal and state laws, including any applicable licensing, disclosure and maximum-rate requirements of the state in which the Borrower is located. If any provision is prohibited or unenforceable under the law of that state, that provision is deemed modified to the minimum extent necessary to render it enforceable, and all remaining provisions remain in full force and effect.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"deecba97-389b-4f74-b16d-88dee82fa1ef","order":146,"text":"18. DISPUTE RESOLUTION","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S18"},{"id":"6b6c3075-1b8e-46ae-bea9-de6533996052","order":147,"text":"Judicial Resolution. Any dispute, claim or controversy arising out of or relating to this Agreement, its breach, termination or validity is resolved exclusively by the courts identified in the section entitled Governing Law and Venue. Nothing in this Agreement limits the right of the Lender to exercise any self-help remedy, to foreclose upon or realize upon any collateral, or to obtain provisional or ancillary remedies such as injunctive relief, attachment, sequestration or the appointment of a receiver.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"ccb98ff6-5b5c-4654-80ae-2b94ec0727c3","value":"courts","type":"add","operator":"="}]},{"id":"8fe95028-2f2a-4406-bda4-3d85dcc1d1d9","order":148,"text":"Binding Arbitration. Any dispute, claim or controversy arising out of or relating to this Agreement, its breach, termination or validity is finally resolved by binding arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules, before a single arbitrator, in [County] County in the Governing State. Judgment upon the award may be entered in any court of competent jurisdiction. The arbitrator may award to the prevailing Party its reasonable attorneys' fees and costs. Nothing in this section limits the right of the Lender to exercise any self-help remedy, to foreclose upon or realize upon any collateral, or to seek provisional remedies from a court of competent jurisdiction.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"ccb98ff6-5b5c-4654-80ae-2b94ec0727c3","value":"arbitration","type":"add","operator":"="}]},{"id":"c26f45c9-1071-45d6-87be-14e8250da258","order":149,"text":"Mediation Followed by Arbitration. The Parties shall first attempt in good faith to resolve any dispute, claim or controversy arising out of or relating to this Agreement by confidential mediation administered by the American Arbitration Association in [County] County in the Governing State. If the dispute is not resolved within forty-five days after a written request for mediation, it is finally resolved by binding arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules, before a single arbitrator, at the same location. Judgment upon the award may be entered in any court of competent jurisdiction. Nothing in this section limits the right of the Lender to exercise any self-help remedy, to foreclose upon or realize upon any collateral, or to seek provisional remedies from a court of competent jurisdiction.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"ccb98ff6-5b5c-4654-80ae-2b94ec0727c3","value":"mediation","type":"add","operator":"="}]},{"id":"cd6ed1ef-3d2f-4884-9e4e-e2c9a48bc77d","order":150,"text":"Individual Proceedings. Any arbitration is conducted on an individual basis. Claims may not be consolidated with the claims of any other Person and may not be brought in a representative, collective or class capacity, unless all parties to the arbitration agree otherwise in writing.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"ccb98ff6-5b5c-4654-80ae-2b94ec0727c3","value":"arbitration","type":"add","operator":"="},{"field":"ccb98ff6-5b5c-4654-80ae-2b94ec0727c3","value":"mediation","type":"add","operator":"="}]},{"id":"267fa351-49af-4b41-a6bd-3ad2e5865d9d","order":151,"text":"Costs. Except as otherwise provided in this Agreement or awarded by the court or the arbitrator, each Party bears its own costs of dispute resolution. The obligation of the Borrower to reimburse the Lender's costs of collection is not affected by this section.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"da67a5f9-72ef-49ad-a5a7-42f31b48e931","order":152,"text":"19. WAIVER OF JURY TRIAL","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S19"},{"id":"18c94d3b-6980-4d36-8628-3cd07a959092","order":153,"text":"TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE LOAN, ANY COLLATERAL OR ANY GUARANTY. EACH PARTY ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT FOR THE LENDER TO EXTEND THE LOAN AND THAT IT HAS HAD THE OPPORTUNITY TO CONSULT COUNSEL. IF THIS WAIVER IS HELD UNENFORCEABLE UNDER APPLICABLE LAW, ANY DISPUTE IS RESOLVED AS OTHERWISE PROVIDED IN THIS AGREEMENT.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"442a3b76-f4d6-4e0d-960a-0dcd91e62f7e","order":154,"text":"20. MISCELLANEOUS","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S20"},{"id":"67a04560-0dc1-48fa-a05e-63bb896b1bb6","order":155,"text":"Entire Agreement. This Agreement, together with its exhibits and schedules, constitutes the entire agreement of the Parties with respect to its subject matter and supersedes all prior negotiations, understandings and agreements, whether oral or written.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"b9b9d583-29fa-446e-844d-cec5936bca38","order":156,"text":"Statutory Notice Regarding Oral Agreements. Where required by applicable law, the Parties acknowledge the following notice: ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE. TO PROTECT THE PARTIES FROM MISUNDERSTANDING, ANY AGREEMENT COVERING SUCH MATTERS IS CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN THE PARTIES, EXCEPT AS THEY MAY LATER AGREE IN WRITING TO MODIFY IT.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"74a0a6ef-3e71-4315-b215-a09151fe53ad","order":157,"text":"Amendments and Waivers. No amendment or modification of this Agreement is effective unless made in a writing signed by both Parties. No waiver by the Lender is effective unless in a writing signed by the Lender, and a waiver on one occasion does not operate as a waiver on any other occasion.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"f20a3535-ccfd-42fd-a521-5884cdb12e42","order":158,"text":"Assignment and Participation. The Borrower may not assign or delegate any right or obligation under this Agreement without the prior written consent of the Lender, and any purported assignment in violation of this provision is void. The Lender may sell, assign, transfer, pledge or grant participations in all or any part of the Loan without the consent of the Borrower, and may disclose to any prospective assignee or participant any information concerning the Borrower and the Loan. This Agreement binds and inures to the benefit of the Parties and their permitted successors and assigns.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"1e3ce5fd-d493-4468-ba86-4f5528533563","order":159,"text":"Severability. If any provision of this Agreement is held invalid, illegal or unenforceable, that provision is reformed to the minimum extent necessary to make it enforceable, and the remaining provisions remain in full force and effect.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"cb8436f5-a321-45d7-b707-b5b03d411e51","order":160,"text":"Relationship of the Parties. Nothing in this Agreement creates a partnership, joint venture, agency or fiduciary relationship between the Parties. The relationship of the Lender and the Borrower is solely that of creditor and debtor.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"bcbdde22-4dc1-4711-ba20-1a215d95f646","order":161,"text":"Joint and Several Liability. If the Borrower consists of more than one person or entity, the obligations of each are joint and several, and the Lender may proceed against any one of them without first proceeding against the others.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"6abc0a3a-c78b-4e2a-9c4e-ce9510d808a8","order":162,"text":"Counterparts and Electronic Signatures. This Agreement may be executed in counterparts, each of which is an original and all of which together constitute one instrument. Signatures delivered by facsimile, portable document format or other electronic means are valid and binding, and the Parties consent to the use of electronic records and electronic signatures under the federal Electronic Signatures in Global and National Commerce Act and the Uniform Electronic Transactions Act as adopted in the Governing State.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"70c8b465-2c28-4563-85db-e5b719517314","order":163,"text":"Headings and Construction. Headings are inserted for convenience only and do not affect interpretation. This Agreement is the product of negotiation between the Parties and is not construed against either Party as its drafter.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"31c7199a-38b6-4ead-be8a-85b450d0439a","order":164,"text":"Time of the Essence. Time is of the essence with respect to every obligation under this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"5313c2ec-91e3-466c-8a37-0d1d1b44f7f4","order":165,"text":"Absolute and Unconditional Obligation. The obligation of the Borrower to pay the Obligations is absolute and unconditional and is not subject to any defense, setoff, counterclaim or recoupment. That obligation is not excused, suspended or discharged by any event beyond the control of the Borrower, including any act of God, epidemic, natural disaster, war, act of terrorism, governmental action, labor disturbance, supply failure or change in market or economic conditions.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"0530b70a-13ff-4ae4-b987-1e36ee7fa100","order":166,"text":"Reinstatement. If any payment applied to the Obligations is at any time avoided, rescinded or required to be repaid to a trustee, receiver, debtor in possession or any other Person, the Obligations so repaid are reinstated as of the date of the original payment, and this Agreement and any security interest and guaranty given in connection with it continue in full force, notwithstanding any prior termination or release.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"fe6b419b-13f4-4d8c-b2bf-6e55ca1a1a2a","order":167,"text":"Confidentiality. The Lender shall keep confidential all non-public financial and business information furnished by the Borrower, and shall not disclose it except to its officers, employees, professional advisers, auditors, examiners and regulators; to any actual or prospective assignee or participant that agrees to be bound by substantially similar obligations; in connection with the exercise or enforcement of its rights; or as required by applicable law, subpoena, court order or regulatory request. The Borrower shall keep the commercial terms of this Agreement confidential, except as required by applicable law or disclosed to its professional advisers.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"66acd388-b8b4-4ccf-bff3-8cdc739461d8","order":168,"text":"No Third-Party Beneficiaries. This Agreement is made for the sole benefit of the Parties and their permitted successors and assigns, and confers no right or remedy upon any other Person.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"93210756-21ca-4673-8732-40a8f2cb7bd7","order":169,"text":"Customer Identification Notice. In accordance with the requirements of applicable federal law, including the USA PATRIOT Act, the Lender may obtain, verify and record information that identifies the Borrower and any guarantor, including legal name, address, taxpayer identification number and other identifying documents, and the Borrower shall provide that information promptly upon request.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"828c5d98-fbbb-44f8-9d43-01d2b3b6fd2e","order":170,"text":"Survival. The provisions relating to costs of collection, indemnification, waiver of jury trial, governing law, venue and dispute resolution survive the repayment of the Loan and the termination of this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"1c8f5db4-6594-4990-b98b-d54c4c7cb0f2","order":171,"text":"Exhibits. The following exhibits are attached to and form an integral part of this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"67566f4a-da55-4b99-89a9-ef668d141cec","value":"installments","type":"add","operator":"="},{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"4d1e75e1-d303-4a55-bc6f-001bc2a0f836","order":172,"text":"Exhibit A — Amortization Schedule, setting out the scheduled installments of principal and interest.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"67566f4a-da55-4b99-89a9-ef668d141cec","value":"installments","type":"add","operator":"="}]},{"id":"f2da75bb-915f-48fa-8471-6f87168ce948","order":173,"text":"Exhibit B — Description of the Collateral.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]},{"id":"813ef12e-9335-4841-bb10-dcae42159a59","order":174,"text":"IN WITNESS WHEREOF, the Parties have executed this Business Loan Agreement as of the Effective Date first written above.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true,"marginTop":"20"},{"id":"4a95a6c0-455a-4b38-9102-1e148190cd82","order":175,"text":"LENDER","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"5","cflou":false,"active":true},{"id":"1491c964-0ca9-464a-b29a-c90ea3ea3571","order":176,"text":"[Lender legal name]","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"5","cflou":false,"active":true},{"id":"acf7d4c5-6b21-4705-b248-58177a719d98","order":177,"text":"By: ______________________________","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"5","cflou":false,"active":true},{"id":"3060594a-d7fa-420a-b94e-cf5c025928c4","order":178,"text":"Name: [Name of authorized signatory]","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"5","cflou":false,"active":true},{"id":"bc47eb29-6b30-4d90-8244-d97591270e5f","order":179,"text":"Title: [Title of authorized signatory]","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"5","cflou":false,"active":true},{"id":"16af33b9-de5c-495e-a1ae-20f5fa63e025","order":180,"text":"Date: ______________________________","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"3969cab3-8201-44f8-9fc1-78b98fb998c0","order":181,"text":"BORROWER","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"5","cflou":false,"active":true},{"id":"7800690a-c58a-4dc7-8317-a7b287b540d0","order":182,"text":"[Borrower legal name]","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"5","cflou":false,"active":true},{"id":"3c50d43e-d749-4e82-b099-b17358c1391c","order":183,"text":"By: ______________________________","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"5","cflou":false,"active":true},{"id":"18108181-a981-4aac-9530-5f44f6d34039","order":184,"text":"Name: [Name of authorized signatory]","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"5","cflou":false,"active":true},{"id":"525f9d7d-61de-4a93-a1a1-b91f581aa205","order":185,"text":"Title: [Title of authorized signatory]","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"5","cflou":false,"active":true},{"id":"00c884c6-0afd-4980-82ef-e6396ec9202c","order":186,"text":"Date: ______________________________","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"1fd4ab4e-6c5f-4d5a-ae5b-73f5726df2f6","order":187,"text":"GUARANTOR","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"5","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"69c8530d-8fc4-469d-8f61-74be08ec6f44","order":188,"text":"By signing below, the Guarantor accepts and agrees to be bound by the guaranty set out in this Agreement, having read it in full.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"5","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"9f3786ca-14ec-462e-8cd3-73d1d673661e","order":189,"text":"[Guarantor full name]","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"5","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"60472f4e-f2a1-43c3-91b0-dfff24f71d5b","order":190,"text":"Signature: ______________________________","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"5","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"b2522281-0cf9-4d95-86cf-27bd6f62015b","order":191,"text":"If the Guarantor is an entity, by its authorized signatory: ______________________________, name and title: ______________________________.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"5","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"53342319-0222-4d25-a0bb-b9f12cbaa579","order":192,"text":"Date: ______________________________","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true,"displayConditions":[{"field":"8d80ea9e-1835-486d-a4b6-0716d4444d5f","value":"guaranteed","type":"add","operator":"="}]},{"id":"873501ad-27a3-4a30-89ce-76acacb0c091","order":193,"text":"EXHIBIT A — AMORTIZATION SCHEDULE","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"67566f4a-da55-4b99-89a9-ef668d141cec","value":"installments","type":"add","operator":"="}],"marginTop":"20"},{"id":"2cdd8852-3975-4f66-951d-3fb6cba02e45","order":194,"text":"Principal Amount: $[Principal amount]. Annual interest rate: [Annual interest rate]%. Number of monthly installments: [Number of installments]. Amount of each installment: $[Installment amount]. First payment date: [First payment date]. Maturity Date: [Maturity date].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"67566f4a-da55-4b99-89a9-ef668d141cec","value":"installments","type":"add","operator":"="}]},{"id":"920f2401-896b-44d2-9698-3c56bd68b3fc","order":195,"text":"The Lender shall deliver to the Borrower a payment schedule setting out, for each scheduled installment, the payment number, the due date, the amount of the payment, the portion applied to interest, the portion applied to principal and the remaining principal balance. Each payment is applied, subject to the order of application of payments set out in this Agreement, first to accrued and unpaid interest and then to the reduction of principal. The schedule is provided for convenience only and does not modify the terms of this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"67566f4a-da55-4b99-89a9-ef668d141cec","value":"installments","type":"add","operator":"="}]},{"id":"70feb3be-dce5-4d53-b247-793471c929a7","order":196,"text":"EXHIBIT B — DESCRIPTION OF THE COLLATERAL","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}],"marginTop":"20"},{"id":"a24b1a18-5f3a-431f-8662-c26e0b35f45c","order":197,"text":"[Description of the collateral], together with all accessions, additions, replacements and substitutions, all books and records relating to the foregoing, and all proceeds and products of the foregoing.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"482e0ef1-a168-4c16-8e93-ca64dc5d1213","value":"secured","type":"add","operator":"="}]}]