Extension of Revolving Credit Note between GSE Systems, Inc. and Susquehanna Bank
Contract Categories:
Business Finance
›
Credit Agreements
Summary
This letter agreement extends the expiration date of the revolving credit facility provided by Susquehanna Bank to GSE Systems, Inc., GSE Power Systems, Inc., and GSE EnVision, Inc. The new expiration date is June 30, 2014. All other terms and conditions of the original Master Loan and Security Agreement remain unchanged. The agreement is signed by a Senior Vice President of Susquehanna Bank and addressed to the Chief Financial Officer of GSE Systems.
EX-10.1 2 exh10-1.htm EXTENSION OF REVOLVING CREDIT NOTE
Exhibit 10.1
Susquehanna
Susquehanna Bank
Robert P. Whelen, Jr., Senior Vice President
307 International Circle, 6th floor
Hunt Valley, MD 21030-1376
Tel ###-###-####
Fax ###-###-####
July 29, 2013
Mr. Jeffery G. Hough
SVP, Chief Financial Officer
GSE Systems
1332 Londontown Blvd.
Sykesville, MD 21784
Dear Jeff:
The purpose of this letter is to confirm that the Bank has agreed to the following:
| · | The Bank has agreed to extend the Revolving Credit Expiration Date until June 30, 2014, as defined in the Master Loan and Security Agreement dated November 22, 2011 in Section 1.1(a), by and among GSE Systems, Inc., GSE Power Systems, Inc., GSE EnVision, Inc. and Susquehanna Bank. All other terms and conditions shall remain the same. |
Please call me with any questions.
Respectfully,
/s/ Robert P Whelen, Jr.
Robert P Whelen, Jr.
Senior Vice President
