EX-10.1
from 8-K
11 pages
This Wells Fargo Paycheck Protection Promissory Note and Agreement ("Agreement") Governs the Wells Fargo Paycheck Protection Loan ("Loan") That Wells Fargo Bank, N.A. ("We" or "Lender") Is Providing to You (If a Sole Proprietor) or Your Business Organization, Borrower(s) Listed Above, (Such a Sole Proprietor or Business Organization Are Referred to in This Agreement as "Customer", "You", and "Your" or "Borrower") and Your Designated Representatives. the Loan Is Established Under the Terms and Conditions of the Sba Program of the United States Small Business Administration ("Sba") and the USA Cares Act (2020)(H.R. 748)(15 U.S.C 636 Et Seq.) (The "Act") and the Availability of the Loan Is Expressly Contingent on Funds Being Available From the Sba Under the Act to Guaranty This Loan. You Agree to Be Bound by and Comply With Each and Every Following Term and Condition of This Agreement. Lender Agrees, Based on the Terms and Conditions and Relying Upon the Representations and Warranties Set Forth in This Agreement, to Make Available to Borrower the Loan as More Fully Described Herein. 2. Promise to Pay Borrower Promises to Pay to Lender, or Order, the Principal Amount of $2,000,000, Together With Interest on the Outstanding Principal Balance. Borrower Will Pay Lender at Lender's Address Shown in This Agreement or at Such Other Place as Lender May Designate in Writing. 3. Interest Interest Will Accrue on the Outstanding Principal Balance at a Fixed Rate of 1.00%. Interest Will Be Calculated as Described in the Interest Accrual Basis Paragraph Below
12/34/56
