Addenda to Revolving Line of Credit Agreement between Dynamic Energy Alliance and Charles Cronin Jr.

Contract Categories: Business Finance › Credit Agreements
Summary

Dynamic Energy Alliance, a Florida corporation, and Charles Cronin Jr., an individual lender, have executed two addenda to their existing Revolving Line of Credit Agreement originally dated July 9, 2011. Each addendum increases the principal amount of the loan by $100,000, raising the total credit available from $100,000 to $300,000. The agreement is governed by Florida law. These addenda formalize the increased borrowing capacity for the borrower under the same terms as the original agreement.

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EX-10.11 4 deac_ex1011.htm LINE OF CREDIT deac_ex1011.htm
EXHIBIT 10.11
 
Addendum #1 to the Revolving Line of Credit Agreement
 
[$100,000.00] [9/11/2011]
 
This Addendum  to the Revolving  Line of Credit Agreement  by and between Dynamic Energy Alliance____________________, a _Florida___________ Corporation (the "BORROWER") and _Charles Cronin Jr.___________________, an ____________ Individual ("LENDER") is made and executed as of the date referred to above. An additional principal sum of _One Hundred Thousand________________  and 00/100 Dollars ($100,000____.00) has been added  to  the  Revolving  Line  of  Credit  Agreement  dated  __July  9, 2011_____________  (the "LOAN AGREEMENT"), bringing the Loan Agreement to a total sum of _Two Hundred Thousand________________  and 00/100 Dollars ($200,000______________.00).
 
This Addendum shall be governed by and construed and enforced in accordance with the laws of _Florida___________.
 
By: /s/ James Michael Whitfield
 
By: /s/ Charles Cronin Jr.
 
 
1
 
 
Addendum #2 to the Revolving Line of Credit Agreement
 
[$100,000.00] [10/05/2011]
 
This Addendum  to the Revolving  Line of Credit Agreement  by and between Dynamic Energy Alliance____________________, a _Florida___________ Corporation (the "BORROWER") and _Charles Cronin Jr.___________________, an ____________ Individual ("LENDER") is made and executed as of the date referred to above. An additional principal sum of _One Hundred Thousand________________  and 00/100 Dollars ($100,000____.00) has been added  to  the  Revolving  Line  of  Credit  Agreement  dated  __July  9, 2011_____________  (the "LOAN AGREEMENT"), bringing the Loan Agreement to a total sum of _Three Hundred Thousand________________  and 00/100 Dollars ($300,000______________.00).
 
This Addendum shall be governed by and construed and enforced in accordance with the laws of _Florida___________.
 
By: /s/ James Michael Whitfield

By: /s/ Charles Cronin Jr.
 
 
2