Loan and Security Agreement with Business Alliance Capital Corp.
This LOAN AND SECURITY AGREEMENT is entered into as of September 17, 1998 between BUSINESS
ALLIANCE CAPITAL CORP., a Delaware corporation (BACC), with its chief executive office located at 300
Alexander Park, Princeton, New Jersey 08543 and K-TRONIK INT'L CORPORATION, a Nevada
corporation authorized to do business in the State of New Jersey (Borrower), with its chief executive office
located at 290 Vincent Avenue, Hackensack, New Jersey 07601.
The parties agree as follows
1. DEFINITIONS AND CONSTRUCTION
1.1 Terms. As used in this Agreement, the following terms shall have the following meanings:
Accounts, means in addition to the definition of accounts in the Code, all presently existing and hereafter arising
accounts receivable, contract rights, and all other forms of obligations owing to Borrower arising out of the sale
or lease of goods or the rendition of services by Borrower, whether or not earned by performance, all credit
insurance, guaranties, and other security therefor, as well as all merchandise returned to or reclaimed by
Borrower and Borrower's Books relating to any of the foregoing.
Advances means all loans, advances and other financial accommodations by BACC to or on account of the
Borrower under Section 2.1 hereof.
Agreement means collectively this Loan and Security Agreement, any concurrent or subsequent rider to this Loan
and Security Agreement, and any extensions, supplements, amendments, addenda or modifications to or in
connection with this Loan and Security Agreement or any such rider.
Authorized Officer means any officer or other representative of Borrower authorized in a writing delivered to
BACC to transact business with BACC.
BACC means Business Alliance Capital Corp., its successors and assigns.
BACC Expenses means all of the following: costs and expenses (whether taxes, assessments, insurance
premiums or otherwise) required to be paid by Borrower under any of the Loan Documen