Item 1.01 Entry into a Material Definitive Agreement
On
The amounts outstanding under the Secured Promissory Note will be secured by the
Company's interest in that certain real property commonly known as 1784
In addition, the Company will incur a facility fee equal to 1.0% of the amount
of each advance under the agreement. The Company may request up to 3 advances
under the agreement through
The foregoing description of the Secured Promissory Note does not purport to be complete and is qualified in its entirety by reference its full text, a copy of which is attached as Exhibit 10.1 and incorporated herein by reference.
In addition on
The Term Loan facility was added to the APS, under which Republic will lend the
Company up to
In addition to the security interest provided by the Company to Republic in the
AR Real Property, if the appraised value of the AR Real Property does not equal
at least 65% of the Principal Amount under the new term loan facility, the
Company must grant an additional security interest to Republic in in that
certain real property commonly known as
The APS was amended to provide that the Company and Republic are required to submit to arbitration proceedings for any controversy which may arise under the APS or any document arising thereunder.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The information disclosed in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03
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Item 8.01. Other Items.
As previously disclosed, on
Item 9.01 Financial Statements and Exhibits
Exhibit No. Description 10.1 Mortgage Agreement and Amendment for Purchase and Sale with RepublicBusiness Credit, LLC 10.2 Amended and Restated 2014 Equity Incentive Plan 10.3 Form of Award of Deferred and Restricted Stock Units for 2014 Equity Incentive Plan
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