Amended and Restated Defined Term

Amended and Restated Defined Term. When used herein and in the Loan Agreement, the following term shall have the following amended and restated meanings: "Revolving Loan Maturity Date" shall mean May 31, 2012, unless extended by the Bank pursuant to any modification, extension or renewal note executed by the Borrowers and accepted by the Bank in its sole and absolute discretion in substitution for the Revolving Note.

Amended and Restated Defined Term. When used herein and in the Loan Agreement, the following terms shall have the following amended and restated meaning: 2018 Non-Recurring Expenses means, in respect of the Fiscal Year ended December 31, 2018 only (i) up to $731,048 of restructuring and severance expenses related to the closing of Borrowers' Skokie, Illinois plant and the separation of certain of Borrowers' executives and sales directors, (ii) up to $217,073 of legal and other expenses incurred in connection with Borrowers'... decision not to pursue further a possible "going private" transaction, (iii) up to $95,000 of recruiting fees for services rendering in identifying and hiring a new Chief Financial Officer for the Borrowers and (iv) up to $128,828 of other non-recurring legal fees. 1 Applicable Margin means, for any day, the rate per annum set forth below opposite the level (the "Level") then in effect, it being understood that the Applicable Margin for (i) LIBOR Loans shall be the percentage set forth under the column "LIBOR Margin", (ii) Base Rate Loans shall be the percentage set forth under the column "Base Rate Margin", (iii) the Non-Use Fee Rate shall be the percentage set forth under the column "Non-Use Fee Rate" and (iv) the L/C Fee shall be the percentage set forth under the column "L/C Fee Rate": Level Senior Debt to EBITDA Ratio LIBOR Margin Base Rate Margin Non-Use Fee Rate L/C Fee Rate I Greater than or equal to 2.00:1.00 3.00% 0.50% 0.25% 0.20% II Greater than 1.50:1.00 but less than 2.00:1.00 2.75% 0.25% 0.25% 0.20% III Greater than or equal to 1.00:1.00 but less than or equal to 1.50:1.00 2.65% 0.15% 0.25% 0.20% IV Less than 1.00:1.00 2.25% 0.00% 0.25% 0.20% The LIBOR Margin, the Base Rate Margin, the Non-Use Fee Rate and the L/C Fee Rate shall be adjusted, to the extent applicable, on the fifth (5th) Business Day after Borrower provides or is required to provide the annual and quarterly financial statements and other information pursuant to Sections 10.1.1 or 10.1.2, as applicable, and the related Compliance Certificate, pursuant to Section 10.1.3. Notwithstanding anything contained in this paragraph to the contrary, (a) if Borrowers fail to deliver the financial statements and Compliance Certificate in accordance with the provisions of Sections 10.1.1, 10.1.2 and 10.1.3, the LIBOR Margin, the Base Rate Margin, the Non-Use Fee Rate and the L/C Fee Rate shall be based upon Level I above beginning on the date such financial statements and Compliance Certificate were required to be delivered until the fifth (5th) Business Day after such financial statements and Compliance Certificate are actually delivered, whereupon the Applicable Margin shall be determined by the then current Level; (b) no reduction to any Applicable Margin shall become effective at any time when a Default or an Event of Default has occurred and is continuing; and (c) the initial Applicable Margin on the Closing Date shall be based on Level III until the date on which the financial statements and Compliance Certificate are required to be delivered for the Fiscal Quarter ending June 30, 2019. Revolving Commitment means $9,000,000. Annex A to the Loan Agreement is hereby amended and restated in accordance with Annex A attached to this Amendment. View More