Amendment to Loan Agreement Between Air T, Inc. and Bank of America Extending Revolving Line of Credit (August 30, 2010)
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Summary
Bank of America, N.A. and Air T, Inc. (along with its subsidiaries) have agreed to extend the availability period for a $7,000,000 revolving line of credit originally documented in a 2007 Loan Agreement. The new expiration date for accessing the credit line is August 31, 2012, replacing the previous expiration of August 31, 2011. All other terms of the original agreement remain unchanged. This amendment ensures continued access to financing for Air T, Inc. and its subsidiaries for an additional year.
EX-10.1 2 bofa_agmt90110.htm AIR T, INC. BANK OF AMERICA AGREEMENT 08/30/10 bofa_agmt90110.htm & #160; Exhibit Exhibit 10.1
Bank of America
August 30, 2010
John Parry
Air T, Inc.
CSA Air, Inc.
Mountain Air Cargo, Inc.
MAC Aviation Services LLC
Global Ground Support, LLC
Global Aviation Services, LLC
3524 Airport Road
Maiden, NC ###-###-####
Re: 01-0000892017-215
Dear Mr. Parry,
Bank of America, N.A. (the “Bank”) is pleased to renew the availability period for your $7,000,000.00 revolving line of credit documented by the Loan Agreement dated September 18, 2007 (including any previous amendments, the “Agreement”).
Effective as of the current Expiration Date of August 31, 2011 the availability period shall be extended and shall expire on the new Expiration Date of August 31, 2012. All other terms and conditions of the Agreement shall remain in full force and effect.
I also want to take this opportunity to thank you for your business. I believe we can continue to provide your company with the same high level of customer service and expertise.
If you have any questions, please contact your Client Manager, Alan Stephens at ###-###-####
Bank of America, N.A.
By: /s/ Olga Rusimovic
Olga Rusimovic
Document Administrator
