Extension Letter for $7,000,000 Revolving Line of Credit between Bank of America and Air T Inc. and Affiliates

Contract Categories: Business Finance › Loan Agreements
Summary

Bank of America has extended the availability period for a $7 million revolving line of credit to Air T Inc. and its affiliates, originally set out in a 2007 loan agreement. The new expiration date for accessing the credit is August 31, 2010. All other terms of the original agreement remain unchanged. This letter does not guarantee any further extensions beyond the new expiration date.

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EX-10.1 3 bofatermloc.htm AIRT BOFAEXTENDING TERM LINE OF CREDIT bofatermloc.htm


[Missing Graphic Reference]
BANK OF AMERICA




August 27th, 2008


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 ###-###-####



Dear Mr. Parry:

Bank of America, N.A. has extended the availability period of your $7,000,000.00 revolving line of credit documented by Facility No. 1 of the Loan Agreement dated September 18, 2007 (including any previous amendments, the “Agreement”).  The availability period shall now expire on August 31, 2010.

This extension shall not constitute a commitment to extend the availability period of Facility No. 1 of the Agreement beyond the date specified above.  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 you and 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.


/s/ Gail M. Romasco                                                      
Gail M. Romasco
Officer/Document Administrator III
 
 
 
 
 
 
 
 
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